ANZ Bank Plans to Cut ‘Many Hundreds’ of Jobs, Union Says
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Australia & New Zealand Banking Group Ltd. is preparing to cut as many as 900 jobs, according to a union that represents bank workers, as the lender trims costs in an economy where demand for mortgages has slumped to the weakest pace in three decades.
“They’ve certainly confirmed it will be in the hundreds,” Leon Carter, national secretary of the Finance Sector Union in Melbourne, said in a telephone interview today. Kevin Foley, an ANZ Bank spokesman in Sydney, said in an e-mailed statement that “there is some belt tightening going on in response to difficult market conditions.”