NAB has joined a growing list of major Australian banks cutting back on staff, confirming this morning that it has slashed 410 roles.
The bank confirmed it has shed hundreds of jobs in its technology and enterprise operations division as part of a mass redundancy plan.
Impacted staff were informed of the cuts yesterday and some will be transitioned to new roles.
READ MORE: US given ‘prior notice’ hours before Israeli strike on Qatar
“Like many businesses, we regularly look at the way we work and how we’re structured to deliver the best experience we can for our customers,” a spokesperson for NAB 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.”
NAB said it will look into redeployment and career transition options for the team members who have been made redundant.
Some roles may also move to different geographic locations.
It has been reported that new roles have been created in India and Vietnam.
READ MORE: Swedish health minister collapses during media conference
“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 set up for success and can deliver better outcomes,” the NAB spokesperson added.
“Having a global workforce is helping us generate better outcomes for customers in a number of ways, leveraging global time zones to extend our hours of operation, speeding up processes and improving turnaround times for our customers.”
NAB is headquartered in Docklands, Melbourne.
All of Australia’s big four banks have taken drastic redundancy measures in recent months.
Just yesterday ANZ announced it would slash thousands of jobs from its Melbourne offices.
It is believed the majority of 3500 full-time roles and 1000 contractor jobs cut from the bank will impact staff at ANZ’s office in Docklands, Melbourne.
In May, it was reported Westpac was planning to shed more than 1500 positions in a bid to streamline systems.
Commonwealth Bank cut 164 jobs from its technology division in March.
DOWNLOAD THE 9NEWS APP: Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on the Apple App Store and Google Play.
