National Australia Bank (ASX:NAB), the country’s second-largest lender by market value, will cut 410 jobs in its Australian technology and enterprise operations division, according to the Finance Sector Union’s statement on Wednesday.
The bank also plans to create 127 new roles in India and Vietnam, shifting work performed in Australia overseas, according to the Finance Sector Union.
Shares in the bank rose 1.5% to A$43.44, while the broader S&P/ASX 200 index edged 0.3% higher as of 03:20 GMT.
A day earlier, ANZ Group (ASX:ANZ), one of the so-called "top four" banks, announced plans to cut 3,500 jobs next year.
"Two banks in two days slashing jobs, it’s shameful. This isn’t one rogue bank, it’s the whole sector driving the same agenda at the expense of workers and communities," FSU National President Wendy Streets said in a statement.
Source :
https://www.investing.com/news/stock-market-news/national-australia-bank-to-cut-410-jobs-shift-some-roles-to-india-vietnam-4232545
