NAB says restructure decision was 'difficult'
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More news: NAB has said the decision to restructure was "difficult" and that it was also creating new roles.
The impacted 410 roles are across its technology and enterprise operations divisions to simplify team structures and to remove duplication.
What they said: A NAB spokesperson said: "The environment we operate in is constantly changing and we need to have the right structures alongside the right skills and capabilities in the right locations to help us deliver for our customers.
“These decisions are always difficult and we understand the impact they can have on our colleagues.
“While some roles are no longer required or may move location, we are also creating new roles across all locations as necessary, to ensure we are setup for success and can deliver better outcomes."
NAB cuts 410 jobs
The news: NAB has cut 410 jobs across its technology and enterprise operations division.
The numbers: The restructure will affect 728 workers, including the permanent loss of 410 jobs.
According to the Financial Sector Union (FSU), the bank also plans to establish 127 new roles in India and Vietnam.
The context: The move comes one day after ANZ announced it would slash 4,500 jobs, including contractors, as part of efforts to simplify its business.
What they said: FSU national president Wendy Streets said: “Two banks in two days slashing jobs, it’s shameful. This isn’t one rogue bank, it’s the whole sector driving the same agenda at the expense of workers and communities.
“It is a betrayal of 728 workers and their families. Profits in their billions, jobs in the bin, banks are showing open contempt for their own people.
“...First ANZ, now NAB. One after the other, banks are swinging the axe. These cuts are destructive to the people who make the banks’ success possible.”
The sources: FSU media release, NAB
