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Australia’s NAB to Cut up to 2,500 Jobs as It Simplifies Operating Model
NAB chief Andrew Irvine said the cuts will improve efficiency and have no material impact on customer-facing roles.
- On Tuesday, The National Australia Bank announced it will cut up to 2,500 jobs over the next financial year, representing 6 per cent of its workforce, while also reducing its use of external contractors.
- NAB chief Andrew Irvine said the initiative aims to make the lender more efficient by reducing duplication and speeding up decision-making, with particular focus on downsizing corporate functions.
- The bank confirmed that up to 1,500 positions will be eliminated before the end of the 2026 calendar year, while it will also "materially" cut back its use of external consultants.
- Irvine emphasized the cuts will have no "material impact to customer-facing roles," asserting the bank will improve productivity, risk outcomes, and operational execution through the restructuring.
- The bank committed to treating every person with dignity and respect, acknowledging the changes represent a difficult period for employees impacted by the workforce reduction.
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15 Articles
15 Articles
Sydney Morning Herald+3 Reposted by 3 other sources
NAB announces it will cut thousands of jobs
The National Australia Bank has announced it will axe up to 2500 jobs over the next financial year.
·North Sydney, Australia
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Total News Sources15
Leaning Left4Leaning Right3Center6Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 31%
C 46%
R 23%
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