NAB to cut 2,500 jobs in major restructure | 7NEWS
National Australia Bank is cutting 2,500 jobs as part of a major restructure, with 1,500 positions to be eliminated by the end of the year and another 1,000 by June next year. The cuts represent approximately 6 per cent of NAB’s workforce, with CEO Andrew Irvine stating the changes aim to reduce duplication and speed up decision making while avoiding customer-facing roles. NAB shares fell almost 3 per cent on the announcement, following similar workforce reductions at ANZ which laid off 3,500 workers last year.
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