Danske Bank is reducing its workforce by a total of 262 positions, according to a press release. The majority of the layoffs will occur in Denmark, where 199 roles are being eliminated, while the remainder will affect operations in Sweden, Finland, Norway, Lithuania, Poland, and the United Kingdom.

According to the bank, these changes are linked to increased automation, efficiency gains, and evolving skill requirements.

Danske Bank simultaneously stated that investments will continue in strategic growth areas and the acquisition of new expertise.