Overview

• Reports indicate about 2,000 roles in retail and 3,000 across other divisions are being considered, with no final decision yet.
• ANZ has paused non-priority work and is targeting duplication and complexity as it reshapes operations.
• Chief executive Nuno Matos apologized after automated redundancy emails reached employees before in-person notifications and moved to expedite changes.
• McKinsey is conducting a wide-ranging review after regulators earlier this year required ANZ to hold additional capital.
• The Finance Sector Union has warned against rushing a restructure that could affect more than 10% of the bank’s roughly 42,000 staff.