Australia's National Australia Bank plans its biggest job cut in years.
The cuts equal about 6 percent of the bank's workforce.
Up to 1,500 roles go before the end of 2026, the bank said.
Corporate teams and senior managers are in scope. Branch staff are mostly safe.
Strategy, transformation, compliance, risk, and business services face cuts.
NAB will sharply reduce its use of consultants and external contractors.
The bank expects a A$300 million pre-tax restructuring charge.
Chief executive Andrew Irvine wants less duplication and faster decisions.
The Finance Sector Union called the cuts near Christmas disgraceful.
NAB stock fell nearly 2.5 percent, the biggest drop of the Big Four.
ANZ cut 3,500 jobs last year as banks slim down across Australia.
Full details on the restructure come with results on November 5.
Get the full breakdown, key numbers, and what happens next.
Read on Rive News