Why NAB is cutting 2,500 jobs | The Business | ABC NEWS
National Australia Bank has announced plans to cut up to 2,500 jobs by mid-2027.
NAB says the move to cut around six per cent of its workforce will “simplify operations” and “prioritise growth”.
While there was no direct reference to artificial intelligence in the NAB release, it did refer to “rapid technological change”.
“NAB is implementing these changes as part of a broader review to identify the nature of the workforce required to support NAB’s strategic ambition in an evolving operating environment,” the bank said in a statement.
Experts have accused the bank of corporate spin and urged for it to come clean on the role of AI in the job cuts.
Swinburne University of Technology governance expert Helen Bird says the slashing of the workforce “should prompt serious questions about how much work will be handed to AI and other technology, and the level of human oversight that will remain.”
Finance Sector Union (FSU) national assistant secretary Nicole McPherson says the union is appalled by the announcement. She said, “people simply don’t know if they’re going to be on the chopping block or not”.
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Read more here: https://www.abc.net.au/news/2026-10-20/nab-slashes-jobs-in-massive-restructure/107286316
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