ANZ Bank to Cut 1,000 Jobs, Citing ‘Difficult Environment’
Australia & New Zealand Banking Group Ltd., the third-largest bank in Australia, plans to eliminate about 1,000 jobs and reiterated a pay freeze for most senior executives as it combats a slump in lending growth.
The domestic cuts will be made by Sept. 30 and will primarily involve middle-management, back-office and support staff, the Melbourne-based bank said in an e-mailed statement today. ANZ Bank currently employs 49,000 people globally, including about 24,000 in Australia, it said.