National Australia Bank will cut up to 2,500 jobs over the next year as it restructures its workforce and seeks to simplify its operating model.
The bank announced the plans on the ASX on Tuesday morning, following a broader review of its workforce. The reduction represents about 6 per cent of its internal workforce during the 2026-27 financial year.
Up to 1,500 roles are expected to go before the end of 2026, while NAB also plans to reduce its reliance on consultants and external contractors.
Andrew Irvine, NAB Group chief executive, said the changes would be difficult for affected employees and those around them.
“We know this will be a difficult period for our colleagues impacted by these changes as well as the people around them,” he said. “We will treat every person with dignity and respect.”
The bank said the restructuring was intended to align its workforce more closely with growth and technology initiatives for customers. It said the reductions would focus particularly on corporate functions, with no material impact expected on customer-facing banking roles.
Mr Irvine said NAB had also made deeper changes to senior management positions, with broader leadership responsibilities planned across the bank.
“This will simplify work between teams and improve cross-functional processes with clearer roles, priorities and accountabilities for our colleagues,” he said.
