National Australia Bank has denied reports that it is to cut 300 IT jobs under a major restructuring plan.
The bank, which last week announced plans to shelve its troubled Integrated System Implementation project at a cost of A$409 million, says it has informed labour unions of a limited number of redundancies.
But the bank has dismissed reports of hundreds of job losses. NAB executives also refuted speculation that the bank was considering offshoring IT work.
Union leaders had sought urgent meetings with the bank following its announcement last week that it would integrate its retail, wealth management and institutional banking businesses into a single geographic unit. Union reps say the bank has given assurances that no more than two dozen IT jobs would be lost under the restructuring.
National Australia Bank currently employs about 2500 IT staff.