NAB cuts hundreds of roles in Australia – as the company is rocked by employee’s death plunge from major Melbourne office
National Australia Bank has cut hundreds of jobs in Australia as it ramps up hiring in India and Vietnam – at the same time company insiders are slamming the Big Four bank’s culture in the wake of an employee’s tragic suicide death in Melbourne.
In the latest restructure, 447 roles will be eliminated from its business division in Australia, while 237 new positions will be created in the two Asian countries.
The latest cuts come after earlier waves of redundancies, with the bank axing 180 roles in its retail banking division in February and more than 400 jobs across its technology and operations teams in October.
Financial Services Union national president Wendy Streets blasted the bank for slashing local jobs while expanding its global footprint.
‘NAB is cutting hundreds of roles in Australia while expanding its workforce offshore, a decision that has real consequences for local workers and communities,’ she said.
‘This is a net loss of Australian jobs, with roles shifting to lower-cost markets despite these positions being readily filled here. These are ongoing, skilled roles that should remain in Australia.’
She said NAB’s efforts to redeploy staff do little to address the broader issue of secure jobs being funnelled out of the country.
The restructure comes as NAB continues to grapple with a shocking tragedy at its Docklands headquarters earlier this month.
National Australia Bank has cut hundreds of jobs in Australia as it ramps up hiring in India and Vietnam
A number of NAB workers have now spoken out about the work environment at the Big Four bank in the wake of a fraud department worker’s suicide (Pictured: Inside the building at Bourke St)
On March 5, a banker fell to his death from the roof of the Bourke Street complex, an incident that horrified witnesses and triggered an internal investigation into what staff have described as a ‘toxic workplace culture.’
The man, yet to be formally identified, is understood to have been an ‘AI-skilled’ employee working in NAB’s fraud division.
The bank is examining whether the height of the rooftop glass barriers played any role in the incident.
One traumatised staff member told the Daily Mail they had just returned from lunch when the tragedy unfolded.
‘As we were walking back, we looked up and watched the entire thing,’ they said.
The Daily Mail contacted NAB for comment.
If this has raised any issues for you, call Lifeline on 13 11 14 or Beyond Blue 1300 224 636 for confidential crisis support.
Follow Mail+’s coverage of the tragedy at NAB’s Bourke St office tragedy
Read the damning email to NAB CEO from suicidal worker before Docklands tragedy – as we reveal the cruel HR method pushing staff to the brink
Pushed to the brink: NAB staff claim bosses at the suicide bank where one employee plunged to his death are deliberately making life hell for workers – and the reason why will horrify you
Anger, grief and finger-pointing at NAB after ‘AI-skilled’ worker’s skyscraper suicide: As questions mount about Big Four bank, staff cry: I never want to step foot in there again
‘Triggering’ Teams photos and claims of other suicide attempts: NAB whistleblower speaks after bank worker plunged from 14th-floor rooftop as horrified staff watched on
