NAB to trim Aussie payroll
(6 April 2005 – Australia) National Australia Bank will remove more than 500 people from its Australian payroll as part of the bank’s efforts to streamline its retail, corporate and wealth management operations.
The bank said it would move some 270 of its staff to US technology company Fiserv, which has struck a 12 year, A$600 million deal with NAB, Westpac and Commonwealth Bank to provide cheque and image processing services.
NAB announced it would shift staff to Fiserv at the time of the deal one month ago.
NAB has also identified and is considering outsourcing a further 253 jobs in the mail handling and credit card processing areas.
The bank said it would make a decision over the next few months but the bank’s first preference would be to make arrangements with a provider to take the bank’s staff.
Last week, the bank announced it would cut 1700 jobs from its UK operations, Clydesdale Bank and Yorkshire Bank, over the next 12 to 18 months. The sale of NAB’s Irish businesses was confirmed in early March.
NAB announced it would shift staff to Fiserv at the time of the deal one month ago.
NAB has also identified and is considering outsourcing a further 253 jobs in the mail handling and credit card processing areas.
The bank said it would make a decision over the next few months but the bank’s first preference would be to make arrangements with a provider to take the bank’s staff.
Last week, the bank announced it would cut 1700 jobs from its UK operations, Clydesdale Bank and Yorkshire Bank, over the next 12 to 18 months. The sale of NAB’s Irish businesses was confirmed in early March.
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