ANZ Plans to Cut 3,500 Staff Over Next Year on CEO Revamp

ANZ Group Holdings Ltd. expects around 3,500 employees to leave the bank by September 2026 as part of a wide-ranging revamp under new Chief Executive Officer Nuno Matos.

The cuts will mean around 8% of the firm’s roughly 42,000 staff will depart. The bank is expected to incur a restructuring charge of about A$560 million ($369 million) before tax in the second half of this year.