ANZ to lay off 3,500 staff, reduce services contractors engagement

It expects a restructuring charge of $560m before tax in H2 2025.

Australia and New Zealand (ANZ) Banking Group Limited announced that it is letting go of approximately 3,500 of its staff by September 2026.

The Australian bank will also reduce engagements with consultants and other third parties as part of changes aimed “to simplify the bank,” according to a statement on 9 September 2025.

“Our changes also include ending or reviewing our engagements with consultants and other third parties, impacting around 1,000 managed services contractors,” said ANZ CEO Nuno Matos in the statement.

The H2 2025 P&L is expected to include a restructuring charge of approximately $560m before tax.

“We know this will be difficult news for some of our staff,” Matos said in the announcement.

Matos recognized that the announcement will be difficult news for some of the ANZ staff.

“While some of these changes have already commenced, we are committed to working through the impacts as quickly and safely as we can, with both care and respect for our teams affected,” he said.

The bank promised to provide a comprehensive support program for the staff to be laid off. This includes staff individual support, career advice, planning support services, and access to a career training fund.