Danish lender Danske Bank has trimmed its workforce by 257 across the group, as part of its 2023 cost-cutting plan.

Of the 257 roles that have been retrenched, 155 employees are based in Denmark, 26 in Norway, 35 in Sweden and 41 in Finland.

Additionally, the bank has allowed another 261 Denmark-based employees to apply for voluntary redundancy, which it has already granted.

These employees will leave the organisation in the coming months, the bank said.

The voluntary redundancy agreements and the layoffs are part of the bank’s plan to cut 1,600 jobs within 6-12 months.

Last month, Danske Bank said that it intends to cut 7% of jobs to slash costs to deal with the aftermath of a vast money-laundering scandal and the impact of negative interest rates.

Danske at present employs about 22,000 people – half of whom are in Denmark – up from 20,000 in 2017.

Danske Bank head of HR and member of the executive leadership team Karsten Breum said: “It is never easy to say goodbye to skilled and competent colleagues, and we are doing what we can to help the employees affected along as best possible.

“We are undertaking a major transformation to adapt to the structural changes that are happening in the financial sector.

“That requires us to reduce costs significantly, and sadly, we cannot avoid layoffs in this connection.

“We continue to look at all cost types and other measures to reduce the number of layoffs necessary, just as we make every effort to carry out the discontinuation of positions in the most respectful and considerate way we can.”