Original article by David Ross
The Australian – Page: 13 & 19 : 10-Sep-25

The ANZ Bank has advised that its 2025-26 financial accounts will include a restructuring charge of $560m as part of its plan to shed about 10 per cent of its workforce. ANZ will retrench about 3,500 employees and 1,000 contractors as recently-appointed CEO Nuno Matos continues to reshape the ‘big four’ bank. Matos contends that the job cuts difficult but necessary in order to eliminate duplicated roles and simplify ANZ’s complex structure. He adds that the job cuts are "about getting things right" rather than profits. The Finance Sector Union’s president Wendy Streets says ANZ is discarding workers so its executives can feed an "out-of-control profit machine".

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, FINANCE SECTOR UNION