6 result(s) for “Banking”
National Australia Bank’s plan to cut up to 2,500 roles and Westpac’s separate reduction of about 140 positions underline a wider wave of workforce change across Australia’s banking sector, raising questions about technology, regulation and the short term impact on the labour market.
A new Memorandum of Understanding signed on October 20 commits Australia to a long term partnership on digital, critical technology and telecommunications in Papua New Guinea, creating opportunities for Australian suppliers while raising questions about financing, competition and security oversight.
National Australia Bank has told the market it will reduce its internal workforce by as many as 2,500 roles over the next year as it moves to simplify its operating model and redirect resources to growth and technology initiatives. The announcement rattled the ASX and heightened scrutiny of job security across Australia’s major banks.
At its 2026 research conference the Reserve Bank of Australia set out a clearer framework for so called additional monetary policy tools and flagged the growing role of financial stability risks for business planning.
A Federal Court order issued on October 11, 2026, requires Westpac to pay A$26 million after finding the bank failed to respond to hundreds of online hardship notices over several years, intensifying regulatory scrutiny of bank treatment of vulnerable customers.
The Commonwealth Bank announced an extension of its regional branch closure moratorium, committing to maintain Australia’s largest rural network and increase targeted investment in branches, ATMs and Indigenous outreach programmes.