ANZ new broom Nuno Matos kicks off change programme with plans to shed 3,500 Australian staff
ANZ’s new boss Nuno Matos has kicked off a widely-expected productivity drive with a plan to shed 3,500 staff.
An ANZ New Zealand spokesman says the announced changes “are mostly focused on our Australian business. There are no significant restructurings planned for New Zealand.”
ANZ NZ employed around 7500 people in New Zealand as at 30 September 2024, including full-time and part-time employees and contractors.
The spokeman said; “As part of our ongoing commitment to operate efficiently and deliver for customers, ANZ NZ regularly reviews how our business is structured. These reviews are part of our normal course of business, and there are no significant changes underway in New Zealand outside of that.
“There are some small changes underway in New Zealand which may impact between 20 and 30Â mostly head office roles.
“These reviews are part of our normal course of business and represent similar levels of organisational change compared with prior years.”
The group-wide plan will also involve farewelling around 1,000 managed service contractors, and is expected to result in a restructuring charge of A$560 million pre-tax in ANZ’s full-year results, to be released on 10 November.
“We are operating in a rapidly evolving and highly competitive banking environment,” Matos said in an ASX/NZX announcement that made no mention of New Zealand.
“As we continue our strategic review, we are eliminating duplication and complexity, stopping work that doesn’t support our priorities and sharpening our focus on improving our non-financial risk management practices across the bank.”