Banks axe more staff

ANZ Bank is expected to shed more jobs today mainly in its struggling institutional banking and corporate banking divisions. Most ANZ staff who have been already been cut have been given two week's notice. ANZ has reorganised its retail banking operation into geographical divisions. Commonwealth has trimmed its institutional banking team. Westpac is expected to announce large numbers of job losses as a result of the merger with St George. Only NAB has not flagged job cuts.

Source: The Age