Australia’s ANZ is reportedly planning to offload jobs and leverage tech for automation. A worker's union called out the bank for axing roles after a profitable year.
ANZ Group plans to cut 170 jobs in its commercial banking operations, according to a «Reuters» report citing Australia’s Finance Sector Union.
A spokesperson for the bank did not confirm the number of cuts but said that headcount changes would allow it to support more customers across branches and digital platforms. The spokesperson also said that the bank remained committed to investing in data and technology.
Union Response
Finance Sector Union national president Wendy Streets criticized ANZ’s plans to ax jobs despite a profitable fiscal year in 2023. According to the bank’s annual report, it had a total headcount of 40,000.
«ANZ made a profit of A$7 billion ($4.5 billion) last year and we can’t understand why it wants to push staff out the door,» Streets said.
