National Australia Bank is set to cut 170 jobs as part of an ongoing restructuring process, while expanding its workforce in Vietnam and India.
A total of 447 roles will be eliminated, but 277 new positions will be created in Australia, resulting in a net reduction of 170 jobs.
In addition, at least 237 new roles are expected to be established at NAB’s offshore centres in India and Vietnam.
Although the bank has not specified which positions will be affected, the move is part of its broader strategy to modernise operations and build a more flexible, global workforce.
An NAB spokesperson stated that the bank will continue to support affected employees by helping them transition into new roles and career opportunities.
The spokesperson added that strengthening customer service and accessing skilled talent in key markets remain central to the bank’s long-term strategy.
Meanwhile, NAB’s latest quarterly business survey revealed that business confidence has dropped to a 15-month low, driven by rising costs and labour pressures.
Wage costs were identified as the biggest concern, with many businesses also reporting labour shortages as a major constraint.
NAB Head of Australian Economics, Gareth Spence, noted that the labour market has remained tight at the start of 2026, continuing to weigh on business confidence.
