ANZ has announced plans to cut 3500 staff in the next 12 months as part of major changes intended to “simplify the bank”.

In a statement posted to the ASX on Tuesday morning, chief executive Nuno Matos acknowledged this would be “difficult news for some of our staff”.

“While some of these changes have already commenced, we are committed to working through the impacts as quickly and safely as we can, with both care and respect for our teams affected,” Mr Matos said.

ANZ said it would be reducing its engagements with consultants and other third parties, impacting about 1000 managed service contractors.

However, the bank confirmed there would be “limited impacts to frontline customer facing roles”.

“While reorganising our teams will change the way we structure the bank and deliver our pr

See Full Page