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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.19 - Other monetary intermediation
300 - 350 jobs Number of planned job losses
Announcement Date
25 September 2008
Employment effect (start)
29 September 2008
Foreseen end date
Description
Danish investment bank, Saxo Bank, is to cut a minimum of 300 staff in spite of good economic results. The reason behind the decision is the financial crisis and a wish to make bank more efficient. The trade union, The Financial Services' Union (Finansforbundet) was consulted and negotiated with Saxo Bank about an acceptable solution. Apart from the redundancies in Denmark, 50 employees in England will probably be made redundant also.
Eurofound (2008), Saxo Bank, Internal restructuring in Denmark, factsheet number 67131, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67131.
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