Australian Banks to cull jobs
November 13, 2008 · Filed Under Bank News
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Australian banks are about to hit the panic button with a new host of job cuts across the sector.
The biggest cuts have been flagged with 2000 job cuts coming from the Westpac & St George merger that was approved by shareholders today.
The National Australia Bank yesterday cut 179 technology jobs, while ABN Amro will cut 150 jobs as part of a review by the Royal Bank of Scotland.
A host of other financial institutions such as Commonwealth Bank, Suncorp, Merrill Lynch and Macquarie Bank have either frozen recruitment or indicated job cuts are likely.
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