National Australia Bank said on Tuesday, 20 October, that it expects to reduce its internal workforce by up to 2,500 roles in its 2027 financial year. That is about 6 per cent of its workforce, according to the bank.
NAB said up to 1,500 of those roles could be removed before the end of 2026. It also plans to reduce its use of consultants and external contractors, but those are separate from the stated internal-role figure.
The bank says it is simplifying its operating model and expects no material effect on customer-facing banking roles. It plans to consult employees and the Finance Sector Union, and says affected staff will be offered support including redeployment and reskilling opportunities.
NAB expects a restructuring charge of about A$300 million before tax in FY27. The figures are the bank's plans and estimates, not completed job losses.
Source: NAB company announcement, 20 October 2026.
Image disclosure: AI-generated symbolic editorial illustration of an empty office. It is not a photograph of NAB premises or affected workers.
