NAB to cut up to 2,500 jobs in Australian restructure
National Australia Bank will remove roles mainly from corporate and senior management as it simplifies operations amid technological change.
National Australia Bank will cut up to 2,500 jobs, or about 6% of its global workforce, in a restructure focused mainly on corporate and senior management roles rather than customer-facing positions.
Reuters reported that 1,500 roles are expected to go by the end of 2026, with the remainder removed by mid-2027. NAB expects a A$300 million pre-tax restructuring charge in financial year 2027.
The bank said the changes are intended to simplify its operating model and improve productivity amid slowing credit growth and rapid technological change. Analysts have linked the shift to wider AI-driven changes in knowledge work, although NAB’s announcement was framed around simplification, cost reduction and technology rather than a specific AI system.
The scale adds to a broader restructuring cycle in Australian banking. ANZ has reportedly planned about 3,500 job cuts and 1,000 contractor reductions by September 2026, while Bendigo and Adelaide Bank has proposed 137 redundancies.
- NAB plans up to 2,500 job cuts globally.
- About 1,500 roles are expected to go by the end of 2026, with the rest by mid-2027.
- The cuts will primarily affect corporate and senior management positions.
- NAB cited simplification, productivity, cost reduction and technological change.
- The bank expects a A$300 million pre-tax restructuring charge in FY2027.
For employers: For an Australian employer planning an AI-linked restructure, map which work is genuinely disappearing and assess redeployment before selecting roles for redundancy. Consult affected employees before decisions are final, document the operational reason for the restructure, and ensure any dismissal meets genuine-redundancy requirements rather than treating technology adoption alone as sufficient justification.
Sources: Australia’s NAB to cut up to 2,500 jobs as it simplifies operating model · NAB to cut 2500 jobs in massive restructure, most to go within months · NAB announces restructure affecting 2,500 jobs
General information for employers, not legal advice. Reporting summarised from the linked sources; confirm details with the primary source.