ANZ has announced 230 jobs will be cut from its retail distribution and financial planning business.
The banking corporation said cost-cutting was behind the decision as a result of intense pressure on the banking sector and record-low interest rates. The bank's chief executive initiated moves last year to save the bank $1 billion by 2022. The Finance Sector Union has criticised the move given the risks the economy already faces from coronavirus and the toll from the bushfires.
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