You are here

ANZ to cut about 200 jobs in Australia as loan growth slows

ANZ170516.jpg
Australia & New Zealand Banking Group Ltd is cutting about 200 jobs in its Australian unit as lending growth slows in a subdued economy.

[SYDNEY] Australia & New Zealand Banking Group Ltd is cutting about 200 jobs in its Australian unit as lending growth slows in a subdued economy.

The cuts will largely be in Melbourne and affect managerial and back-office roles in areas such as marketing and project management, Melbourne-based spokesman Stephen Ries said in an e-mail.

"The changes are in response to subdued economic conditions, low lending growth and the need to simplify our business and improve productivity," he said.

The lender also has an external hiring freeze in place, Mr Ries said.

BLOOMBERG