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Copenhagen - Denmark's biggest bank, Danske Bank, announced 250 layoffs Tuesday to meet a 1.1bn kroner ($199m, €147m) cost-saving target for next year.
"Today we have let 250 people go, mostly in our non-customer facing units, which includes all support functions," a spokesman told AFP.
The job cuts would cover "a large part" of the annual savings target announced last month, he added.
Danske Bank, which has around 20 000 employees, said in 2011 it would shed 2 000 positions by the end of 2014.
The troubled bank was hit by Denmark's burst housing bubble, which sent the economy into a tailspin and left the country with the world's highest household debt per capita.
Chief executive Thomas Borgen took the helm in mid-September, replacing shipping industry veteran Eivind Kolding who was fired for what the board described as a lack of banking experience.
In October, the bank lowered its guidance as a rise in profits failed to meet market expectations.
