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NAB to cut 2,500 jobs in major restructure
Original: NAB to cut 2,500 jobs in massive restructure By Jonathan Barrett Business editor Bank says bulk of redundancies will occ
National Australia Bank will cut 2,500 jobs under a large restructuring, with the bulk of redundancies expected before the end of the year. The bank cites a challenging economy, competition and rapid technological change. The scale of the cuts has drawn attention to pressures on Australia's banking sector and the outlook for affected staff.
Why now: A major Australian bank announcing thousands of redundancies is significant news for workers, the finance sector and the wider economy.
National Australia BankJonathan BarrettAustralia
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- NAB to cut 2,500 jobs in massive restructure By Jonathan Barrett Business editor Bank says bulk of redundancies will occur before end of year, citing challenging economy, competition and ‘rapid technological change’ https://www. theguardian.com/australia-news… · guardianfeeds@rssfeed.media
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