NAB to cut 2,500 jobs in massive restructure

Bank says bulk of redundancies will occur before end of year, citing challenging economy, competition and ‘rapid technological change’ National Australia Bank is cutting 2,500 jobs, representing 6% of its workforce, marking another significant round of cuts in a sector heavily exposed to disruption by artificial intelligence. NAB said in a statement on Tuesday that the bulk of the redundancies would occur before the end of the year, citing a challenging economy, competition and “rapid technological change”.