The National Australia Bank is slashing 2500 jobs, in what it calls a move to “simplify its operating model”.
“As part of these actions, NAB expects to reduce its internal workforce by up to 2500 roles or about 6 per cent in FY27,” the big four bank said in a statement.
“This will include up to 1500 roles before the end of 2026. NAB will also materially reduce its use of consultants and external contractors.”
NAB Group chief executive Andrew Irvine said the changes would help create “a simpler and more efficient bank.
“These changes are expected to improve outcomes for customers by reducing duplication and speeding up decision making”.
“There will be no material impact to customer-facing banking roles,” he said.
“We have also deliberately made deeper changes to senior management positions which will broaden leadership responsibilities across the bank.”
More to come