Melbourne, October 13, 2025 — Hundreds of ANZ Bank employees gathered outside the bank’s Melbourne headquarters today to protest against the company’s plan to slash 3,500 jobs as part of a sweeping restructuring effort. The move, announced last month by new CEO Nuno Matos, has triggered outrage among workers and unions, who warn it will devastate staff morale and service delivery.
The protest, organized by the Finance Sector Union (FSU), saw placards reading “People Before Profit” and “Stop the Cuts” as employees voiced their anger over what they described as “corporate greed in disguise.”
According to news.com.au, the demonstration took place just days after internal meetings revealed that the layoffs would affect both full-time employees and contractors across Australia.
Union Demands Urgent Government Intervention
The Finance Sector Union has called on the Australian government and the Fair Work Commission to intervene and force ANZ Banking Group to reconsider the cuts.
In a statement, the union said the layoffs represent “a brutal betrayal of loyal employees who helped the bank weather economic uncertainty.” The FSU estimates that another 1,000 contractors could also lose work under the bank’s operational overhaul, bringing the total job impact to nearly 4,500 positions.
“This is not just a restructuring — it’s a dismantling of livelihoods,” said FSU National Secretary Julia Angrisano. “The ANZ CEO must face the human cost of these decisions.”
The union has already lodged a Fair Work Commission challenge, accusing the bank of failing to consult workers adequately and of violating industrial fairness principles.
ANZ Defends Cuts as “Necessary Modernization”
In a statement released earlier this month, ANZ Banking Group defended its plan as a strategic move aimed at modernizing operations, improving efficiency, and preparing for long-term digital transformation.
CEO Nuno Matos, who took over leadership in early 2025, said the changes are part of a broader plan to “streamline legacy systems, reduce costs, and enhance customer experience through technology.”
“While these decisions are difficult, they are necessary to ensure ANZ remains competitive in a rapidly changing financial landscape,” Matos said.
The ANZ CEO added that the bank will offer support programs, retraining, and redeployment options to affected staff “where possible.”
However, employees say communication has been vague and inconsistent, with many still unsure whether their departments will be impacted.
Workers Say Morale Has Plummeted
Several ANZ employees told reporters they felt blindsided by the decision.
“We found out through internal memos and media leaks,” said one long-time customer service officer. “There’s been zero transparency.”
Others criticized management for announcing job cuts while posting strong profits in the previous quarter.
According to Reuters, ANZ’s profits for FY2024 reached AUD 7.6 billion, up 8% from the previous year — further fueling accusations that the cuts are profit-driven rather than operationally necessary.
Protests Spread Nationwide
Today’s Melbourne rally follows similar demonstrations at ANZ offices in Sydney, Brisbane, and Perth, where workers marched in solidarity. The FSU has hinted at possible strike action if ANZ does not pause the layoffs and commit to further consultation.
“If the bank doesn’t listen, we’re prepared to escalate,” said Angrisano. “This is about fairness and the future of secure work in Australia’s banking sector.”
The protests have also gained traction online, with hashtags #SaveANZJobs and #PeopleBeforeProfit trending across social media platforms, as thousands of Australians express support for affected workers.
What’s Next for ANZ Banking Group
Industry analysts suggest that ANZ’s restructuring could signal a wider shift across Australia’s banking sector as institutions automate services and reduce physical branch networks.
Still, experts warn that aggressive job cuts could backfire, damaging brand reputation and customer trust — particularly in a post-pandemic economy where consumers value human interaction.
As tensions mount, ANZ faces increasing scrutiny from both regulators and the public, with many calling for greater transparency and accountability in how Australia’s major banks treat their workforce.
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