NAB simplifying operating model and improving alignment
Progress Report, Company Administration - Other
Change of Director’s Interest Notice, Company Administration - Other
Appendix 3Y - Change of Director's Interest Notice
Change of Director’s Interest Notice
The bank says there is no link between its redundancies and artificial intelligence. But we need more transparency about how roles are changing to know this for sure.
The largest restructure at the bank in nearly a decade is forcing colleagues to compete for a dwindling number of roles.
McMillan Shakespeare chief Rob De Luca has had a long and winding career, and has come to think about leadership as a bit like being a parent.
The bank’s justification for mass redundancies this week has been questioned by two members of a parliamentary committee.
While anger is spreading across the bank, brokers say the savings could mean better-than-expected results when the company reports earnings next month.
Artificial intelligence is changing the nature of knowledge work, and banks are big investors. It seems only a matter of time before the two forces collide.
The lender plans to slash 6 per cent of its workforce and reduce its use of consultants and contractors as CEO Andrew Irvine seeks cost savings.
Read everything that’s happened in the news so far today.
The bank’s dual-pronged hammer blow to jobs should resonate across Australia’s office towers, particularly with the nation’s white-collar workers.
The competition regulator has been asked to urgently intervene as banks describe proposed undertakings as a significant threat to the availability of cash.
Senator Andrew Bragg demanded the executives front up themselves as he criticised ASIC for failing to hold the lenders responsible for offset account failures.
A new pay agreement with Australia’s largest white-collar workforce sets a major precedent for the other big banks’ EBA negotiations.
The bank had said its latest restructuring program wasn’t about eliminating jobs, but more than 100 roles are set to go.
AI policy should ensure Australia develops sovereign capability to train and run the latest models in data centres on-shore, despite questions about Firmus.
Loyalty scheme specialists say there is no better time for consumers to reassess which products they are using as banks and airlines rework their offers.
Risks have grown – from the pandemic to a global trade spat, AI, and international conflicts – exposing the vulnerability of Australian firms’ supply chains.
The industry hopes it can put aside its differences and collaborate on banking in the bush if it is to avoid an expensive government intervention.
The bank faces a protest vote at its annual meeting next week as a group of investors pushes for improved disclosure about environment risk.
Analysts said further interest rate rises would only increase the likelihood of a loan-loss cycle next year for the banking sector – the first “homegrown” one in 35 years.
The big four banks are trapped on the wrong side of a two-speed economy, and bets are piling up against them.
