Danske Bank A/S : lays off 257 employees in cost-cutting plan

COPENHAGEN (Reuters) - Danske Bank on Thursday laid off 257 employees and granted another 261 a voluntary redundancy agreement as the lender continues previously announced plans to cut up to 1,600 jobs.

"We are undertaking a major transformation to adapt to the structural changes that are happening in the financial sector," Head of Human Resources Karsten Breum said in a statement.

"That requires us to reduce costs significantly and, sadly, we cannot avoid layoffs."

(Reporting by Nikolaj Skydsgaard; Editing by David Goodman)