National Australia Bank will lay off 410 workers as it restructures its technology and enterprise operations division in the latest round of job-cutting by a big four bank.

The Finance Sector Union (FSU) on Wednesday slammed the bank over the decision, which will affect 728 workers, though the bank said some of these people will move to another area, rather than losing their jobs. The net result of the changes will be 410 redundancies, it said.

At the same time, the bank is establishing 127 new roles in India and Vietnam to perform work that was previously done in Australia, the union said.

NAB’s job losses come just a day after ANZ Bank chief executive Nuno Matos announced a plan to cut global staff numbers by 8 per cent, a move expected to mainly hit the bank’s Australian workforce of

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