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The Finance Sector Union is deeply concerned for the wellbeing and financial security of NAB workers following a ruthless management decision to launch mass layoffs, with most jobs set to be eliminated by Christmas. 

Some 1500 families face a bleak festive season thanks to the bank’s sudden announcement of savage cuts across the banking group. 

The remaining 1000 will have to wait in limbo until some time in the New Year to see if they have a job at all. 

Around 180 roles will also be offshored to NAB offices in Vietnam and India. 

NAB staff are already reporting high levels of stress and anxiety from unbearable workloads caused by previous job cuts.  

Today’s announcement is typical of the way NAB management treats its workers, who learned about these cuts via an email from CEO Andrew Irving at the same time as the stock exchange was told. 

At a meeting this morning, which Mr Irvine did not attend, management was unable to answer basic questions put by the union, including what roles will be impacted and when workers will learn if they will lose their jobs.  

They also refused to confirm whether the cuts were due to AI.  

The FSU will meet with its NAB members over the next few days to decide ways to fight back against the cuts and provide support at this difficult time.  

In the meantime, the FSU is calling on Mr Irvine to meet with the union immediately to provide clarity and give a proper justification for slashing its already threadbare workforce by 6%. 

Andrew Irvine will still enjoy a Merry Christmas courtesy of his self-administered $6.5 million annual paycheque, although he may face the wrath of investors who saw the bank’s overall 2025 FY profit drop to $6.7 billion over the same year.   

Quotes attributable to FSU National Assistant Secretary Nicole McPherson 

“NAB staff have suffered a year from hell after previous cuts and were no doubt looking forward to a break from the doom and gloom over Christmas,” Ms McPherson said.  

“Instead their holiday cheer has been replaced with uncertainty over their futures. 

“The actions of NAB management are despicable and have been compounded by the contemptuous way they have kept their workers in the dark. 

“NAB’s public statement today was nothing but corporate spin but its intention is clear – NAB sees its workers as a barrier to profits and a problem that can be swept aside with ruthless cuts. 

“NAB workers are people – people with families, people with financial responsibilities, people who are already close to breaking point to deliver NAB its record profits. These people deserve to be treated with dignity and respect, and so far NAB has shown them none.” 

ENDS 

Media contact: Sam Burgess 0434 165 630 or [email protected]