Latest News:  
Beijing   Light snow    0 / -4   City Forecast

People's Daily Online>>World

Australia's ANZ Banking Group launches first round of job cuts

(Xinhua)

09:11, January 19, 2012

SYDNEY, Jan. 18 (Xinhua) -- ANZ Bank, one of the big four banks in Australia, has launched its first round of job cuts amid the fears that some 7,000 jobs could be slashed from the Australian banking industry in the next two year, local media reported on Wednesday.

About 130 workers in the bank's commercial and retail businesses were told on Tuesday that they would be made redundant.

A spokesman for ANZ Bank said affected staff would be able to apply for other roles at ANZ, according to the Australian Broadcasting Corporation (ABC) News reports.

"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," the spokesman said.

"As we flagged last week, we expect that there may be further changes during 2012 but there are no other specific plans to announce at this stage."

It was reported that close to 1,000 jobs could possibly disappear in the bank over the next six months, but the job cuts would not affect frontline staff including tellers and branch workers.

A report from analysts at Swiss investment bank UBS says up to 7,000 jobs could be cut in the Australian banking industry in the next two years as banks attempt to cut cost.

Email|Print|Comments(Editor:雪萌)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Chinese premier starts official visit to Qatar

  2. Dough modelling artist makes preparation for Year of the Dragon

  3. White whales present show to celebrate Chinese New Year

  4. Polar bear cub meets visitors in China's Shandong

Most Popular

Opinions

  1. Farewell to double-digit GDP growth
  2. Actions speak louder than words
  3. New driving force for East Asian cooperation
  4. In love with luxury amid global gloom
  5. China should take fight to US over Iran
  6. How will HK go through economic difficulties in 2012
  7. US dollar is just a dirty shirt
  8. Factors affecting world economy in 2012
  9. Why Russia's aircraft carrier visits Syrian port
  10. Central grain reserves turn into 'market stabilizer'

What's happening in China

Smoggy days spur surge in air filter sales

  1. Sanya's "Around-the-City Highway" opens to traffic
  2. China's FDI falls 12.73 pct in Dec.
  3. Flashy earphones an invitation to thieves
  4. China seeks to improve college hardware
  5. Oil prices rise on China economic report

PD Online Data

  1. Yangge in Shaanxi
  2. Gaoqiao in Northern China
  3. The drum dance in Ansai
  4. Shehuo in Baoji City
  5. The dragon dance