AL Sydbank cuts over 300 jobs following merger

Danish banking group AL Sydbank has cut over 300 staff members this year. Local residents and job seekers in Denmark may notice changes in bank staffing levels. The bank had 3,888 employees at the end of June. This marks a drop of 343 workers since the new year.

AL Sydbank was formed by merging three Danish banks. These are Sydbank, Arbejdernes Landsbank, and Vestjysk Bank. Chief Executive Officer Mark Luscombe explained the reduction in a half-year report. He said the cuts stem from two layoff rounds in the first quarter. The details were reported by The Copenhagen Post.