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NAB to slash up to 180 jobs amid company overhaul

Samantha Menzies
Senior editor – Finance
Source: Reuters

Royal Commissioner Kenneth Hayne was right to be concerned that the National Australia Bank (NAB) had learned nothing from the banking royal commission.

Barely four weeks after the Commission’s Report singled out NAB for sharp criticism, more than 900 staff are being affected by wholesale cuts to customer service roles at branches across Australia.

The bank confirmed to the ABC that up to 180 positions would be cut as a result of proposed changes to branches throughout the nation.

NAB said the restructure was designed to better align rosters with customer banking habits.

NAB retail general manager Krissie Jones said no-one would leave unless they chose to, AAP reports.

“Some may choose to move into relief roles, to work more or less hours, or move into different roles across NAB,” Jones said.

“Some people may choose to leave NAB if the time is right for them.”

However, employees were only notified of the changes to the bank’s retail arm on Monday meaning they were given just seven working days to consider their future, with the job cuts set to take effect from 4 April, 2019.

NAB did not say whether the anticipated job losses were part of the 4,000 planned net reduction in its workforce announced in November 2017.

The bank’s announcement comes just weeks after chairman Ken Henry and chief executive Andrew Thorburn resigned after being dragged over the coals at the banking royal commission.

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