Internal restructuring
København og Frederiksberg kommuner;
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.20 - Activities of holding companies

120 jobs
Number of planned job losses
Job loss
Announcement Date
30 January 2020
Employment effect (start)
30 January 2020
Foreseen end date
30 April 2020


The Danish insurance, pension and banking group, Alm. Brand, cuts 7% of the workforce. On 30 January 2020 the group presented its 2019 financial statements, which contained the announcement that it would dismiss 120 employees who had already been notified during the same morning. Alm. Brand stated that the restructuring affected mainly staff functions at the headquaters in the Port of Copenhagen. The dismissals are a result of the group 'reinventing the financial supermarket' and that the CEO will integrate the three business legs to a greater extent by cross-selling to customers, where it was previously only the insurance part that took care of the insurance customers and so on. Thus, it has been possible to combine more staff functions and also due to IT investments and automation, the company needs fewer employees.



Eurofound (2020), Alm. Brand, Internal restructuring in Denmark, factsheet number 99855, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/99855.