NAB announces up to 2,500 job cuts in Australia
NAB plans up to 2,500 job cuts over the next year, including up to 1,500 by the end of 2026. The union warns about staff workloads.
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National Australia Bank (NAB) plans to cut up to 2,500 jobs, about 6% of its workforce. The Guardian reported this on 20 October, citing a statement from the Australian bank.
Clarification, 20 October, 06:54: Reuters, also citing the bank, reports plans to cut up to 2,500 positions over the next year, including up to 1,500 by the end of 2026. The bank cites a difficult economic environment, competition and rapid technological change. NAB says it aims to reduce duplication and speed up decisions, while also reducing its use of external consultants.
The Finance Sector Union warns that the changes will affect an already heavily burdened workforce. We do not attribute all the cuts directly to artificial intelligence. The bank makes no such specific claim in the quoted statement.
Additional source: Reuters, 20 October 2026 in Sydney.
Source: The Guardian, 20 October 2026, including positions from NAB and the Finance Sector Union.
Illustrative photo: Vitaly Gariev / Unsplash, Unsplash License. An office interview, not NAB employees. Cropped to 1200×675 px.
