ANZ pares down 45 personnel

Small restructure in the bank’s retail distribution not a start of mass layoff but to increase efficiency.

ANZ will cut about 45 jobs as part of a restructure affecting two departments.

The bank said 20 back office and operational roles would be cut and the Finance Sector Union said it had been briefed on a further 25 job cuts affecting positions in Australia, New Zealand and Bangalore.

“ANZ is completing a small restructure in its retail distribution area with about 20 back office and operational roles being made redundant,” said a spokesman for the bank.

Sources close to the bank said most of the positions would be in Melbourne and none of the lay-offs involved moving jobs overseas.

"At present we have been able to find roles for around 80 per cent of people where change in the business has resulted in redundancies," the bank said.

FSU national director for campaign and bargaining Wendy Streets said most of the additional 25 jobs to be cut would be in the accounts payable section.

Ms Streets said the jobs involved sourcing office supplies for the bank and that “the entire process will be outsourced to a company that does that on a global scale”.

View the full story in Sydney Morning Herald.