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National Australia Bank (NAB) recently announced plans to cut 2,500 jobs by mid-2027, including 1,500 by the end of this year. However, NAB has now revealed it plans to abolish 3,200 jobs before Christmas, although it will invite some displaced staff to apply for new jobs through a process known as ‘spill-and-fill’.
A senior NAB manager has likened the process to the popular film franchise The Hunger Games. Internal figures show NAB’s technology and AI teams will be hit hardest by the job cuts, with around 1,200 roles to be abolished.
While NAB is busy retrenching local staff, it is significantly expanding its technology workforce in Vietnam and India.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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