Employees pay the price for past management’s neglects

Dear member,

As a part of a major reorganisation, Danske Bank has decided to lay off around 257 employees -  155 in Denmark. Added to the 261 voluntary redundancies earlier this month, we are saying goodbye to just over 500 employees in a time that is very turbulent for our bank.

In September, when the ELT announced that costs are too high and that the bank would terminate 1,600 positions within 6-12 months, a year of uncertainty began among the employees. Who will be laid off? When? And how busy will those of us who remain be, when we must lift the piles of work from the empty desks?

Shitstorms in the media and comprehensive organisational changes make it even more uncertain for the employees at the moment. We are busy. We are stressed. We are worried. And in addition, we pay the price for the bad shape of Danske Bank, even though the shitstorms and extra costs are inflicted on us because past management has not listened to us and lived up to their responsibilities when we sounded the alarm.

The management of Danske Bank has a huge task in cleaning up the mess and regain the trust from our customers, the investors and the society around us. The costly management mistakes of the past has led to a view that the only opportunity to cut costs is to reduce the very spine of the bank: Our fantastic, competent and loyal employees.

It is unfortunate that the management so insistently believe that we are too many and too expensive – and that many of us are not a part of the solution to the banks problems. I find it unreasonable that we must say goodbye to so many colleagues in a time where the bank has so many scandals and a mess that needs cleaning up. We need hands to rebuild the bank, and I would prefer more long-term investments to save the bank rather than the short-sighted gains that come from laying people off. Sadly, I doubt that these cuts are the last we will see. There is still a long way to go to the 1,600 positions.

We cannot reverse the management’s decision. But we can do our best to care for our colleagues – regardless if they have to move on in their career or need to talk to someone about the major changes and the uncertainty that surrounds us in Danske Bank right now.

My colleagues and I at Finansforbundet i Danske Bank are ready to support and counsel anyone who may need it. Feel safe to reach out. We are here for you.