Layoffs to follow Spar Lolland takeover
01. feb. 2013 13.16 EnglishLast week, Spar Lolland seemed finished as an independent financial institution when it failed to meet the solvency requirements of the Danish FSA.
Instead, Jyske Bank has taken over all the banking activities of Spar Lolland, including its customers, employees and branches.
Yesterday evening, Anders Dam, CEO of Jyske Bank, announced to a meeting of shareholders that there will be a number of layoffs in the wake of the takeover, though he did not give any figures.
Jyske Bank’s takeover covers all 45,000 customers of Spar Lolland’s branches and 70,000 customers of its online bank FinansNetbanken.
Monday was the official changeover day, and, from the moment the stock exchange opened, the Jyske Bank share price began a strong climb.