NAB to lay off up to 1,500 jobs by end-2026

It is cutting about 6% of its current internal workforce through FY2027.

National Australia Bank is reducing 6% of its internal workforce in FY2027, equal to up to 2,500 roles.

Up to 1,500 roles will be cut before the end of 2026, the Australian bank said in an announcement on 20 October.

NAB expects to recognise a restructuring charge of approximately $211m (A$300m) pre-tax in FY2027 related to redundancy, redeployment and organisational redesign costs.

NAB Group CEO Andrew Irvine expects the job cuts and announced operating model changes to reduce duplication and speed up decision making for its customers.

“We are particularly focused on reducing the size of corporate functions. There will be no material impact to customer-facing banking roles,” Irvine said in a statement.

NAB said that it will commence consultation with affected employees and the Finance Sector Union.

Irvine said that NAB made deeper changes to senior management positions, broadening leadership responsibilities in the bank, although he did not elaborate on the specific changes.

“This will simplify work between teams and improve cross-functional processes with clearer roles, priorities and accountabilities for our colleagues,” Irvine said.

For affected employees, NAB promised consultation and engagement opportunities, redeployment and reskilling opportunities, career transition support, and redundancy entitlements in accordance with applicable industrial instruments and employment obligations.

(US$1 = A$1.42; as of 28 October 2026)