NAB says the cuts will simplify its operations, while promising no material impact to customer-facing banking roles.
NAB plans to cut about 2,500 jobs this financial year, including 1,500 before the end of December, as it reshapes its operations and focuses on growth and technology. The bank says customer-facing roles will not be materially affected. Its shares fell nearly 2 per cent as the broader sharemarket lost ground. SBS Finance Editor Ricardo Gonçalves speaks with Citi’s Elizabeth Tian about the market moves, including a lift in tech stocks.
In this episode
• NAB’s planned workforce cuts and the bank’s reasons for making them • What NAB says the changes could mean for customer-facing roles • Why the ASX200 fell 0.4 per cent, with miners leading the declines • How global technology stocks performed across different markets
SBS On the Money is a daily finance podcast where SBS Finance Editor Ricardo Gonçalves unpacks the ASX, the economy and the latest market moves with leading analysts and executives.
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