Rose HillOliver MacKenzie

The role of AI in NAB’s staff cuts has been hotly debated but new research and emerging details suggest the bank is going backwards. NAB has announced a restructuring that will see 2,500 people leave the business. Shutterstock. Already a subscriber? Sign in Choose plan (Required) Let me know about Capital Brief updates and subscription offers. or pay with credit card NAB says AI isn’t to blame for 2,500 job cuts.

NAB says AI isn’t to blame for 2,500 job cuts. But its biggest restructure in years exposes the gap between major banks and leaner rivals. NAB CEO Andrew Irvine. AAP Image/Mick Tsikas. Already a subscriber? Sign in Choose plan (Required) Let me know about Capital Brief updates and subscription offers.

The bank has announced a major restructuring. National Australia Bank has announced a major restructuring of its workforce, cutting up to 2,500 roles. Executives from the major bank met on Monday night to prepare for the restructuring, which is being described internally as a "bloodbath" and the biggest since the launch of Accelerate One NAB plan in 2019, which saw around 6,000 staff shown the door.