National Australia Bank to cut up to 2,500 jobs in efficiency drive

National Australia Bank disclosed a restructuring program that will see up to 2,500 jobs, about 6% of its workforce, cut during the next financial year. Of those, up to 1,500 positions are slated to be eliminated before the close of the 2026 calendar year, and the bank will also scale back reliance on external consultants and contractors. CEO Andrew Irvine explained that the moves are intended to improve efficiency, risk outcomes and execution, focusing on shrinking corporate functions while preserving front-line staff.

He assured that the changes will not have a material impact on roles that interact directly with customers. The bank also committed to handling the transition with dignity and respect for all affected colleagues. Further details are expected as the plan progresses.