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Danske Starts Shifting Jobs Away From Scandinavia to Save Money

Danske Bank A/S is shifting jobs away from its home markets in Scandinavia, as it finds more ways to save money beyond an existing plan to cut 1,600 positions.

“A lot of our cost base is of course people,” Chief Executive Officer Chris Vogelzang said in an interview. He said Lithuania and India are examples of countries Danske can use to “move business or activity from A to B.”