National Australia Bank to cut 2,500 jobs, citing rapid AI adoption
gaganghotra_ · x · 2026-10-20
National Australia Bank (NAB), one of Australia's Big Four banks, announced a sweeping restructure cutting 2,500 jobs over the next nine months—6% of its workforce: 1,500 roles gone by Christmas, the remaining 1,000 by mid-2027. The bank told investors the overhaul aims to simplify its workforce amid a challenging economy and the rapid increase in AI use, alongside reduced reliance on consultants and contractors.
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