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ANZ Bank plans to cut 4,500 jobs in Australia to streamline operations and compete better.
Australia's ANZ Bank, under new CEO Nuno Matos, plans to cut 3,500 jobs and 1,000 contractor roles to streamline operations and compete better with rivals.
This restructuring, expected to cost A$560 million, aims to reduce duplication and focus on core priorities, with most customer-facing roles unaffected.
The Finance Sector Union criticized the cuts, questioning who will do the work of those laid off.
ANZ shares initially rose but ended slightly lower.
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ANZ Bank planea recortar 4.500 empleos en Australia para agilizar las operaciones y competir mejor.