Den Jyske Sparekasse is cutting up to 50 posts as part of its new austerity program. In addition to 14 people being laid off, 36 positions will be removed through voluntary redundancies and replacements not being extended. In all, around one in 10 jobs will be eliminated.

In making the cuts, the bank expects to save DKK 30 million, which is equivalent to 6.7% of its personnel and administration.