Hold on tight! ANZ Group Holdings Ltd. might slash a jaw-dropping 5,000 jobs! Yes, you read that right! And this is yet another shockwave in the job indudtry.
A total of five thousand people could lose their jobs as the company goes through a huge shake-up led by their CEO, Nuno Matos. Imagine that!
About 2,000 jobs are likely to vanish from the retail division, the part where people actually shop and talk to the bank. And wait for it, another 3,000 jobs might be cut from other areas too! That’s a lot of people wondering what’s next.
But here’s the twist- they haven’t even made a final call yet. It is now a daily kind of story, waiting for a plot twist in job market. How would you feel if your job was on the line? Crazy, right?
This is a huge deal and everyone’s watching closely!
ANZ Hits Pause On Extra Work, Plans Big Changes
According to the reports by Bloomberg, ANZ’s spokesperson said the bank is looking closely at its plans and will share any updates in mid-October. Right now, they have stopped doing work that isn’t very important. This means they want to focus only on what really matters. They are also trying to make things less confusing by cutting out extra work that’s repeated.
If you worked there, would you feel better knowing they are trying to fix things? What do you think might change when they finish this review? It’s a big job, and everyone is waiting to see what happens next!
Recent Communication Mishap And Union Response About Layoffs At ANZ
Last week, CEO Nuno Matos apologized and expedited layoffs after automated emails about job cuts were mistakenly sent before employees were notified personally.
- The Finance Sector Union has cautioned ANZ against rushing the restructuring process.
- The restructure aims to address overlaps within the business.
ANZ’s Big Changes: What Has Changed Until Now?
ANZ’s CEO, Nuno Matos, is working hard to improve the bank’s culture and risk management. A big review by McKinsey & Co. is happening after new rules from Australia’s banking regulator.
With 42,000 employees, including 10,800 in retail, ANZ has already made some leadership changes and is planning more. They want to simplify things and focus better on customers while making the bank safer.
(With Inputs From Bloomberge)
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Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
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