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NAB’s McEwan warns ‘reshape’ will cost jobs

National Australia Bank chief executive Ross McEwan has told staff more restructures could be needed as he seeks to “reshape” the business, but the bank would “fight” to keep jobs in the face of the pandemic shock.

In a note to the bank’s 34,000 staff on Friday afternoon, Mr McEwan said he intended to give staff a “crystal clear” sign that the bank would protect as many jobs as it could. He also asked employees to be flexible, said some were being re-deployed, and said the bank would press ahead with restructures that had already been planned before the pandemic struck, with the possibility of others being required.

NAB CEO Ross McEwan.

NAB CEO Ross McEwan.Credit:Elke Meitzel

“We will still change or remove roles for reasons other than COVID-19, including restructures which were already planned or may become required as we continue to reshape the business,” Mr McEwan said.

Mr McEwan said he understood employees were concerned about their positions due to the pandemic, but the bank would “fight together” for the jobs of colleagues.

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