ANZ Cuts 800 Workers, 2% of Workforce, on Economic Downturn

By Jesse Riseborough

Dec. 6 (Bloomberg) -- Australia & New Zealand Banking Group Ltd., the nation’s fourth-largest, will cut 800 workers, or 2 percent of its workforce, amid a global economic downturn.

Chief Executive Officer Mike Smith told staff at a briefing yesterday of the job losses, Kevin Foley, a spokesman for Melbourne-based ANZ, said today by telephone. ANZ said on Nov. 14 that more than 500 jobs would be cut to cushion the company from the impact of the global credit crisis.

“It’s to reduce the numbers of middle-management employees,” Foley said. Staff in branches who dealt directly with customers and those in call centers “are largely unaffected,” he said.

Royal Bank of Scotland Plc is also cutting between 120 and 150 workers from the Australian unit of ABN Amro Holding NV, which it acquired this year, the Australian Financial Review said today.

To contact the reporter for this story: Jesse Riseborough in Melbourne at jriseborough@bloomberg.net