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StumbleuponJob cuts are finally being felt by bank branch staff, as NAB axes 113 jobs from across its branch network.
Until now, banks have delayed cutting branch staff to avoid rehashing the negative fallout from similar actions taken last decade.
NAB announced yesterday it was cutting 75 branch employees in NSW, however it is creating 60 extra positions in its small- to mid-sized business banking arm.
Fired staff will have to reapply for those positions.
A total of 208 jobs were cut, the remaining 95 from management and support roles.
The bank did however announce it is looking for 155 new business bankers.
CBA announced earlier this week that it would be cutting 400 jobs from its subsidiary BankWest. ANZ has cut 58 financial planner positions.
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