NAB has flagged the loss of 6,000 jobs as the impact of new technology and digital transactions cuts a swathe through traditional banking jobs.
Key points:
- 6000 traditional bank jobs to go and 2000 new digital positions created as NAB aims to move 60 per cent of its business online over three years
- Redundancies are expected to cost up to $800 million
- Despite record underlying cash profit of $6.6bn, shares fall on cost blow out
The job losses over three years were announced as the bank revealed a full year net profit of $5.3 billion.
In announcing the cuts NAB chief executive Andrew Thorburn said the entire banking industry was under pressure to reshape its…
Read the full article at: http://www.abc.net.au/news/2017-11-02/nab-full-year-profit-2017/9109898