National Australia Bank is to axe up to 2,500 jobs in a major cost overhaul as credit growth slows

At least 1,500 of the roles at National Australia Bank are expected to go by the end of 2026, with the rest of the cuts falling across fiscal 2027. The lender is simplifying its operating model in a sweeping corporate shake-up. The cuts come as lending growth cools and the outlook for Australia's banking sector darkens.

NAB describes the restructure as a simpler operating model, and staff numbers will fall under it.

The cuts land as the wider Australian banking sector faces a souring outlook.