ANZ Begins Jobs Cuts Asia Spared

ANZ Headquarters

ANZ Headquarters

As the bank battles against poor economic conditions and a series of internal scandals, under fire Australia & New Zealand Banking Group has announced redundancies at its Melbourne headquarters. 

Australia & New Zealand Banking Group (ANZ) will cut in the region of 200 jobs from its local workforce. The bank announced its intentions to staff on Tuesday morning, according to Australian publication AFR (paywall).

No Asian Cuts

The cuts are said to be coming predominantly from its Melbourne office and will affect back-office workers in areas such as marketing and project management.

A spokesman for the bank Stephen Ries said that the redundancies come in response to subdued economic conditions, low lending growth and the need to simplify ANZ's business while improving productivity. 

When asked by Ries said there were no plans for job cuts in Asia.

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