Denmark’s Danske Bank has decided to slash a number of administrative jobs that focus on business development and technology in a bid to revamp the organisation, Bloomberg reported.

The lender will lay off 63 employees and simultaneously shift nearly 5,000 IT staff into the “better ways of working” which will lead to “less bureaucracy and more flexibility”.

The latest organisational overhaul is expected to contribute towards potential cost savings. Danske Bank, however, did not provide a figure yet, the news agency added.

In total, Danske Bank is removing 156 positions as a part of the overhaul, out of which 63 people in Denmark and Lithuania will leave and the remaining will get new roles.

Danske Bank’s “Better Ways of Working” initiative head Lars Alstrup was quoted by Bloomberg as saying: “We are sorry that we have to say goodbye to a number of skilled employees, but this is a natural outcome of our ongoing work on becoming more efficient, including working in other ways.”

Last week, Danske Bank allowed its employees to work from home a few days a week if they wanted as part of the latest shift in staff arrangements.

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The bank earlier stated the lockdowns due to Covid-19 outbreak will have a “lasting impact” on how it operates.

In recent months, the bank has witnessed an increase in customer satisfaction, employee engagement and productivity.

Danske Bank said the latest move will enable its employees to “react faster to our customers’ wishes and needs.”