NAB cuts 179 tech jobs

NAB cuts 179 tech jobs

National Australia Bank (NAB) is to axe 179 technology jobs, according to local press reports.

Employees were informed of the losses - which are on top of 264 IT positions that were cut earlier this year - on Wednesday following a review. Some staff may be offered other positions within the bank or be placed at other companies.

According to reports, the bank began a review in July to decide whether some IT jobs could be provided more efficiently from its facilities in India, which are run with Satyam and Infosys.

A bank spokeswoman told The Australian newspaper the cuts were not linked to the economic downturn.

In October the newspaper reported that Commonwealth Bank of Australia (CBA) is set to axe IT staff and shelve technology projects as part of a A$370 cost cutting programme.

In the same month ANZ also warned of more job cuts and an expansion of its offshoring programme after reporting its first annual profit fall in 10 years.

NAB cuts more IT jobs - The Australian

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