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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Wright Reports

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Oestjydsk Bank A/S Changes Division Structure; Announces Layoffs

Tuesday, 19 Feb 2013 08:46am EST 

Oestjydsk Bank A/S announced that it has, in connection with the publication of its Annual Report for 2012, informed that the efforts are being made to reduce the Company's overall cost. In connection with that, it has been decided that the Company will in the first half of 2013 conjunct the division in Virring with its division in Skanderborg. In addition, the division in Randers Storcenter will merge with the division in Ostervold in Randers. The change in the Company's structure has resulted in layoffs of approximately 10 employees. The effects of the mergers of the divisions and redundancies are expected to result in annual cost savings of approximately DKK 15 million. The effect on the Company's operating profit is expected in the financial year 2014. 

Company Quote

-0.3 -1.69%
29 Aug 2014