KEY POINTS:
The Age newspaper in Australia is reporting that hundreds and possibly thousands of jobs will go from the ANZ within weeks.
The bank wants to aggressively reduce costs in the face of the economic slowdown.
The article does not mention whether the bank's New Zealand staff will be impacted.
It says a well-placed source who is aware of ANZ's plans said the bank will axe up to 3,500 staff and contractors, which is ten per cent of its workforce.
The redundancies will occur at least two weeks before Christmas and will mostly affect middle management.
- NEWSTALK ZB
