ANZ has announced a series of organizational changes aimed at simplifying its structure and strengthening its focus on key priorities. The bank expects around 3,500 employees to leave the group by September 2026 as part of this restructuring process. Additionally, ANZ plans to reduce its reliance on consultants and other third-party engagements.
The company stated that it will treat affected employees with care and respect, aiming to conclude the process swiftly. Support measures for departing staff include individual assistance, career advice and planning services, as well as access to a career training fund. Consultation with staff and relevant unions is ongoing.
Chief Executive Officer Nuno Matos commented: “My ambition is for ANZ to be the best bank for our customers, while ensuring we sustainably meet the performance expected over the long-term.
“We know this will be difficult news for some of our staff. While some of these changes have already commenced, we are committed to working through the impacts as quickly and safely as we can, with both care and respect for our teams affected,” Mr Matos said.
Matos added that ANZ operates in a rapidly evolving banking environment. He noted: “As we continue our strategic review, we are eliminating duplication and complexity, stopping work that doesn’t support our priorities and sharpening our focus on improving our non-financial risk management practices across the bank.
“Our changes also include ending or reviewing our engagements with consultants and other third parties, impacting around 1,000 managed services contractors.
“While reorganising our teams will change the way we structure the bank and deliver our priorities, what won’t change is the dedication of our customer facing bankers who support our customers day in, day out,” Mr Matos concluded.
The company expects to record a restructuring charge of about $560 million before tax in its second half 2025 profit-and-loss statement. The final amount will be updated when full-year results are released on November 10, 2025. A strategy update is scheduled for investors on October 13, 2025.
The changes are designed so that there will be limited impact on frontline customer-facing roles. ANZ also confirmed it remains committed to meeting obligations made to federal and Queensland governments regarding its acquisition of Suncorp Bank.