NAB to Cut 410 Support Roles, Shift Some Bank Work to India

Group 1 - National Australia Bank Ltd. is cutting 410 jobs in its technology and enterprise operations division, impacting a total of 728 workers [1][2] - The bank plans to create 127 new roles in India and Vietnam, indicating a shift of some work previously done in Australia [1][2] - Australian lenders are reducing headcount due to falling benchmark interest rates affecting profit margins, with ANZ Group Holdings Ltd. also announcing a cut of around 3,500 roles [2] Group 2 - NAB employs over 38,000 people globally, with approximately 91% of its workforce located in Australia and New Zealand [3] - NAB India and NAB Vietnam have seen growth, employing more than 4,200 people [3] - The bank is reviewing its staff payment processes after recent errors that will cost around A$130 million (approximately $86 million) [4]