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‘They are all tightening their belts’: Job cuts in the banking sector mount

Bendigo Bank's restructure targets technology roles to improve efficiency amid financial challenges, joining a sector-wide trend of significant job reductions, union reports.

  • Several major banks in Australia are laying off workers due to technological changes and profit demands.
  • Bendigo and Adelaide Bank plans to cut 158 jobs, mainly among technology employees.
  • The National Australia Bank is cutting 410 jobs, while ANZ Bank is laying off 3,500 workers, indicating a shift within the banking sector.
  • Hugh Dive from Atlas Funds Management noted that technological upgrades and the desire for increased profits are driving these job cuts in Australian banks.
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News broke the news in on Thursday, September 11, 2025.
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