NAB proposes 170 net job cuts in Australian restructuring

NATIONAL AUSTRALIA BANK LTD is proposing a significant restructuring of its business division that will result in a net loss of approximately 170 jobs across Australia. According to the Finance Sector Union (FSU), the plan involves making 447 roles redundant while creating 277 new onshore positions. This adjustment is part of a broader strategy to modernize the bank's workforce while maintaining a presence in customer-facing roles.

In addition to the domestic changes, the lender is proposing the creation of 237 new offshore roles, primarily located in India and Vietnam. The bank stated that these international positions would function as an extension of its Australian teams, helping to deliver more consistent service outcomes for its clients.