At least 237 new roles are also set to be created at NAB's offshore centres in both India and Vietnam.
The National Australia Bank is set to slash 170 jobs as it adds roles in Vietnam and India, amid its ongoing restructuring.
A total of 447 jobs are set to be cut, with 277 new roles set to be created in Australia, bringing a net total of 170 redundancies.
At least 237 new roles are also set to be created at NAB's offshore centres in both India and Vietnam.
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While NAB has not confirmed which jobs will be cut, the decision is part of the major banks' strategy to modernise their workforce, creating new roles in Australia and overseas.
In a quarterly business survey released today, the bank announced that business confidence has fallen to a 15-month low due to the intensification of costs and labour.
Wage costs were cited as the biggest issue affecting business confidence, with labour being reported as a significant constraint by several firms.
"Wage costs remained the biggest issue affecting business confidence, and the share of firms reporting labour as a significant constraint rose in the quarter, highlighting that the labour market has remained tight to start 2026," NAB Head of Australian Economics, Gareth Spence, said.
Nine.com.au have reached out to NAB for comment.
More to come.
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