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 64.1 - Monetary intermediation
New offshoring locations
Lithuania
600 jobs Number of planned job losses
Announcement Date
24 October 2012
Employment effect (start)
24 October 2012
Foreseen end date
Description
Danske Bank, a Danish bank, announced that it will close 131 branch offices in the country, whereby 300 jobs will be cut. According to Danske Bank, internet banking and ATMs have decreased the demand for many branch offices. The affected employees have already been informed. The redundancies are part of a larger international restructuring plan affecting 2,000 employees.
UPDATE: On 13.11.2012 Danske Bank stated it would offshore another 300 administrative jobs to the bank's subsidiary Lithuania. This will concern back-office functions. The total number of employees in Denmark will then be reduced to 5300.
Sources
24 October 2012: finans.borsen.dk
13 November 2012: Jyllands-Posten
Citation
Eurofound (2012), Danske Bank, Offshoring/Delocalisation in Denmark, factsheet number 74465, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74465.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
