Danske Bank Cuts 60 Jobs as Part of Its Plans to Reduce Costs 

(Bloomberg) -- Danske Bank A/S has cut 60 jobs as part of plans to reduce costs and operate with a smaller labor force.

The cuts were made across the organization in January, Karsten Breum, head of human resources at the Copenhagen-based bank, said in an emailed statement. Denmark's largest bank, which is due to publish 2021 earnings on Thursday, currently employs about 22,000 people.

“As we've said before, we'll be fewer employees over time through natural attrition and an ongoing adjustment of our organization,” Breum said. “It's never an easy decision to say goodbye to good colleagues, and that's why we also have an ongoing focus on up-skilling and job relocation.”

In October, Danske slashed its 2023 profitability target, citing increased competition and costs related to its money laundering scandal. The bank is still being investigated by authorities in Europe and the U.S. over the alleged laundering, which dates back to the period 2007 to 2015.

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