Overview
- NAB proposed reducing 447 positions in its business division and creating 277 new roles across Australia and overseas, leaving 170 fewer jobs in Australia.
- New offshore hiring will build out “innovation centres” in India and Vietnam that house analysts, data engineers, software engineers and operations specialists.
- The bank said affected staff will get redeployment options, confidential support and practical career transition services.
- NAB said it is still hiring in Australia in customer-facing roles and noted its local workforce has grown over the past five years.
- Similar cuts at Westpac, Commonwealth Bank and ANZ point to a sector-wide shift to trim local headcount, and the Finance Sector Union expects more redundancies.