NAB plans to cut up to 2,500 jobs in operating model review
National Australia Bank plans to cut up to 2,500 jobs during the 2026-27 financial year as part of a review intended to simplify its operating model. The changes matter to staff and the wider banking sector, while the bank says they are designed to prioritise growth and technology initiatives for customers.
The cuts would amount to about six per cent of NAB’s internal workforce, with up to 1,500 roles going before the end of 2026. The bank also plans to reduce its use of consultants and external contractors, focus cuts on corporate functions and make deeper changes to senior management. Chief executive Andrew Irvine said customer-facing banking roles would not be materially affected.
- NAB plans to cut up to 2,500 jobs in 2026-27.
- Up to 1,500 roles could go before 2027.
- The bank says customer-facing roles will not be materially affected.
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National Australia Bank, or NAB, is one of Australia’s major banks. It provides services such as accounts and loans to people and businesses, and employs staff in both customer-facing roles and internal teams such as finance, technology and management.
An operating model review looks at how a company is organised and how its work is carried out. Banks may change these arrangements as they invest in technology and seek to control costs; such changes can affect employees, management and the way the wider banking sector operates.
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Originally published by Daily Mail as “NAB to slash 2,500 jobs as banking giant unveils major overhaul”.