13 Feb '12, 4am

Australia's ANZ bank to slash 1,000 jobs

Australia's ANZ bank to slash 1,000 jobs

SYDNEY: ANZ Bank Monday announced it will slash about 1,000 jobs in response to a tougher global environment as profits are squeezed by higher funding costs and lower demand for financial services. The move comes barely a week after fellow banking giant Westpac confirmed it will axe up to 550 jobs while some 170 positions at the Australian arm of the Royal Bank of Scotland are also expected to disappear. The Australia and New Zealand Banking Group, the country's third-largest bank by market value, said the permanent jobs will go this year in Australia among middle management, back office and support staff. ANZ currently employs approximately 24,000 staff in Australia and 49,000 worldwide. Chief executive for Australia Philip Chronican said the bank was "acutely conscious of the impact of these reductions on individual staff members". "We will be making every effort to use ...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific/vi...

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Australia's ANZ Bank to cut 1000 jobs in 2012

Australia's ANZ Bank to cut 1000 jobs in 2012

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