NAB to slash up to 2,500 jobs in massive restructure

National Australia Bank (NAB) has announced a major corporate restructure that will result in the elimination of up to 2,500 jobs, representing approximately 6 per cent of its total workforce. The banking institution intends to carry out these workforce reductions and overhaul its operating model over the next financial year, with full implementation targeted by mid-2027.

The large-scale job cuts form part of a broader corporate realignment designed to modernise the bank's operational framework. The restructuring plan marks one of the most significant workforce reductions announced by a major Australian financial institution in recent years, reflecting ongoing efforts by the bank to streamline its operations moving forward.