Chief executive Andrew Irvine is expected to face questioning next week in parliament over the handling of the bank’s restructuring.
National Australia Bank has backed down on its plan to make more than 1500 staff redundant before Christmas, agreeing to give workers on the chopping block a reprieve following intense public and political backlash.
The big four banks will now keep staff who are made involuntarily redundant until January 27, five weeks later than planned. The new date also applies to workers who cannot find different roles at the bank.
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David Jones’s owners have appointed administrators, which is expected to trigger an extensive restructure of the company and thousands of job losses.
With Christmas sales approaching, falling confidence raises questions about household spending and the outlook for shares
