Job cuts, work sent offshore ‘a win’ for bank customers
NAB joined the Big Four Banking opponent by pouring things in response to stock price pressure and artificial intelligence development.
The Bank is accused of betraying its workers and their families by a union after announcing 410 job losses, while being affected by the changes in employment of more than 300 people from technology and business operations.
A total of 127 roles will be created in India and Vietnam.
Nab said that having a global labor force will lead to better results for customers during long -term working hours, accelerate processes and improve their return time.
“We need to have the right skills and skills in the right places to help our customers deliver our customers.
Anz announced on Tuesday that 3500 personnel and 1000 contractors will be dismissed in a major restructuring until September 2026.
The Bank said that simplifying operations is part of a pressure to simplify operations, focusing on the “priorities of customers ve and cutting consultant expenditures on the roles facing the front.
410 jobs lost in NAB represented about one percent of the labor force, while Anz threw approximately eight percent of the personnel without including 1000 contract business.
Angela Knox, Professor of Management of Sydney University, drew attention to challenging competition for investors, pressure to increase stock prices and presenting artificial intelligence.
He said that the labor costs in Vietnam and India are not “coincidence”.
“They are trying to reduce costs to improve performance results, especially for investors, Professor Knox AAP said.
NAB’s share price increased by 1.6 percent on Wednesday.
National President Wendy Streets accused NAB of betraying hundreds of workers and their families.
“Do not only harm the personnel, but it evacuates services for customers and communities relying on NAB,” he said.
“In two days, two banks cut jobs, embarrassing.
“This is not a bandit bank, but all the industry directs the same agenda at the expense of workers and communities.”
Elizabeth Sheedy, Professor of the University of Macquarie University, was not surprised by the interruptions of the industry’s regular restructuring, which was accepted as a reason for Australian banks to be among the most profitable in the world.
While the authority says that two banks that explain the outages at the same time can provide a cover or sharing, this may be because many banks have recently completed technology upgrades.
“They don’t say much about AI in terms of their strategies, but I think everyone suspects that it is a subject underlying,” he said.
Both institutions have new chief executives who were appointed as Anz boss Nuno Matos in May.
“There are new CEOs in three of the four large banks. It is a typical game book that he wants to make many changes to trace a new CEO and work the organization in a way that matches his visions,” he said.
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