Danske Bank is seeking voluntary redundancy of 2,000 of its 11,000 Danish workforce, following a year of poor headlines around its role in a money laundering scandal and poor results in surveys of local retail banking customers.
As noted in an interview cited by DR and TV2 in Denmark, the bank's head of Human Resources Anne Knøs confirmed the redundancies, as the organisation seeks to become an "even more digital, simple and effective" bank.
Danske Bank is seeking to make DKK5bn in cost savings by 2023 versus 2019, notes TV2. It has already introduced a hiring freeze, and is now seeking to reduce headcount at its headquarters. In total, the bank has some 22,000 staff, including operations outside Denmark.
The bank tried voluntary redundancy in 2016, but apparently only a few hundred took this versus some 8,000 staff approached about the offer at the time, TV2 added.
Bank surveys not good
Also announced is the latest survey of banking customers in Denmark by Voxmeter. It found (https://voxmeter.dk/danske-bank-haenger-fast-i-dyndet-kunderne-giver-bundkarakter/ ) that Danske Bank ranks lowest among among the country's 20 biggest banks.
This follows a Voxmeter survey in December 2019 (https://voxmeter.dk/danske-bank-afstoedes-af-hver-2-dansker/ ) which found that 37% of Danske Bank's existing customers wished they could move to a different bank. Of those that do not bank with Danske Bank, some 48% answered that they would never bank with it.
Those results are based on interviews with 224,000 banking customers across Denmark conducted annually. There was a significant spike in negative customer views of Danske Bank over the past year associated with the money laundering scandal it is tied to. Looking back to 2011, Voxmeter's surveys have previously found Nordea was hit by its links to the Panama Papers, while Jyske Bank suffered from newsflow associated with Gibraltar and taxes.