Gottiboff: NAB sackings just the beginning

Advertisement

Via Gottiboff today:

What National Australia Bank chief executive Andrew Thorburn did this week was to blow the starters gun on the labour revolution which will dominate the next decade. And that revolution will see not only a radical change in the types of jobs on offer but a dramatic swing to self employment and small business. Australia is a world leader in preparing for this swing but much more is required, particularly in the taxation administration system.

Every bank, many accounting firms and law offices, plus large companies like Telstra all know they will need to use the new technologies to follow NAB and slash staff. If they don’t take that action they will be severely damaged because their rivals, including start ups, will take slabs of market share because they will have lower costs.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.