A spokesperson for ANZ told the AFR (18/1/2012):
These changes reflect continued belt-tightening in the business given the more subdued economic environment and the continued pressure funding costs are placing on margins.
While the 130-odd job losses has so far been restricted to back-office employees, hundreds more are expected to go in the next six months. However, it appears that the forthcoming redundancies and those made on Tuesday were preceded by several months of hushed exits.
According to an anonymous ANZ spy:
I find it interesting that ANZ has announced the current round of redundancies when over the last quarter there were literally dozens of workers let go in my office alone. A team on the same floor as me retained just FIVE out of its team of FOURTEEN in November, while stories of similar sized departures abounded in the lead-up to Christmas.
At least the redundancies that have now been announced wont come as a suprise to anyone – we’ve all feared news like this was coming for months!
We imagine that the pall of imminent job-losses is causing considerable anguish in the lives of all staffers, not to mention the detrimental impact it is doubtlessly having on employee productivity. We hope that the bank will not unnecessarily draw out this process so that continuing staff can get on with the business of banking and those let go can find a more stable workplace.
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