Via The Australian:
Margin Call understands internal work on the project at the bank — which last year made a net profit of $9.23bn — has been underway for some time, with the closure of up to 300 of the bank’s national network of almost 1000 branches said to be under consideration.
A reduction of up to 25 per cent of the bank’s workforce — which numbers more than 40,000 people in Australia and almost 50,000 worldwide — has been canvassed.