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
240 jobs Number of planned job losses
Announcement Date
27 October 2016
Employment effect (start)
15 November 2016
Foreseen end date
31 December 2016
Description
The Danish bank and mortgage credit association, Nykredit, has announced it will cut 240 jobs. Of the reductions, 190 will be in the form of direct dismissals while the rest are vacant positions that will not be filled. This was announced on 27 October 2016. The redundancies will be carried out this year and the affected employees will be informed on 15 November 2016. Through the dismissals and a similar decrease in the use of external consultants, Nykredit plans to save DKK 200 million (€27 million) per year. In 2014, Nykredit went through a similar round of redundancies - 300 jobs were shed - and the employee representative at Nykredit has expressed concern and surprise over the fact that another round of dismissals is necessary so shortly after the previous one.
Sources
27 October 2016: Børsen.dk
27 October 2016: Avisen.dk
27 October 2016: Avisen.dk
Citation
Eurofound (2016), Nykredit, Internal restructuring in Denmark, factsheet number 89028, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89028.
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