COPENHAGEN Nov 29 Danske Bank said
on Tuesday it has laid off 77 employees in Denmark and another
244 have accepted voluntary redundancy as part of an effort to
cut costs against a backdrop of low interest rates.
In October, the bank offered 8,000 staff, mainly in the
bank's personal banking and business banking divisions in
Denmark, voluntary redundancy. The bank said then it had no
specific target for the number of positions to cut.
"It's always hard to say goodbye to good and dedicated
colleagues, but the difficult conditions with low growth and
negative interest rates mean that we need to have extra focus on
our costs," HR director Henriette Fenger Ellekrog said in a
Keeping down costs is part of Danske Bank's aim to deliver
return on equity of at least 12.5 percent in 2018, it said
(Reporting by Jacob Gronholt-Pedersen; editing by David Clarke)