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Jyske Bank group cuts 177 full-time jobs

Monday, 16 Jun 2014 03:00am EDT 

Jyske Bank A/S:Due to a lower level of activity, declining loan volumes except for new home loans, the IT conversion of Spar Lolland to Jyske Bank and a merger of staff functions at BRFkredit and Jyske Bank, it has been decided to cut 177 full-time jobs in the Group.Several jobs will be cut with immediate effect, and this will unfortunately result in the lay-off of 92 employees.Says rest of the reductions will take place in connection with planned retirements, internal redeployment etc. over the coming 12 months.In relation to the outsourcing of the IT operations of BRFkredit, 20 employees from BRFkredit will move to JN Data in the second half of 2014.Says three branches merge with other Jyske Bank branches In the course of the second half of 2014, the Løkken Branch will be merged with the Brønderslev Branch.In addition, the branches in Sakskøbing and Rødby will merge with the Maribo Branch.It is considered that these measures will complete the cost adjustment and the adjustment of the branch network following the take-over of Spar Lolland. 

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