Australian union FSU appalled by NAB plan to cut 2,500 jobs
Australia's Finance Sector Union has reacted with outrage to National Australia Bank's announcement that it will cut 2,500 jobs by mid-2027, according to Reuters.
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what happened
The Finance Sector Union (FSU) of Australia said it was appalled by the announcement that National Australia Bank (NAB) will reduce its workforce by 2,500 positions by mid-2027, Reuters reported.
A national assistant secretary of the union said it had no further comment at this time.
why it matters
Job cuts of this scale at a major bank are usually linked to efforts to lower costs, so the news is of interest to investors in Australia's banking sector. The announcement itself, however, includes no new financial figures from the bank.
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sources
- Australia's Finance Sector Union Is Appalled By Announcement That NAB Will Cut 2500 Jobs Across Bank — Reuters, 20 October 2026 at 00:51 UTC
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