Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Danske Bank, a large Danish bank operating globally, announced a large restructuring plan on 8 October 2020, which will make 1,600 employees redundant globally within a year. The restructuring will affect approximately 7% of the total number of employees. In Denmark, Danske Bank has dismissed 155 employees, and further 261 employees have chosen to accept a voluntary redundancy agreement and will leaving their positions in the coming months.
Beside redundancies, the bank will also close a significant number of branches throughout Denmark. The restructuring plan aims at reducing costs and make the bank more competitive.
The bank has also dismissed 26 employees in Norway, 35 in Sweden and 41 in Finland. This brings the total direct dismissals to 257 in the Nordic countries.
Eurofound (2020), Danske Bank, Internal restructuring in Denmark, factsheet number 102708, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102708.