Comcast lost 144,000 residential broadband customers in the third quarter of 2026, more than the 91,000 it lost a year earlier. Co-CEO Mike Cavanagh and CFO Jason Armstrong blamed aggressive fixed wireless competition and fibre pricing, which Armstrong described as irrational. Offers of $30 to $40 a month were cited in some markets, while Comcast said fibre deployment costs $1,500 or more per home. The company now has 28.3 million residential broadband customers in the United States. Comcast plans a major operating and cost overhaul, with a charge of over $1 billion expected in its fourth-quarter report.
National Australia Bank plans to cut 2,500 roles by June, about 6 per cent of its workforce, with 1,500 going before Christmas. Staff who spoke anonymously to the ABC accused the bank of a spill and fill strategy, forcing teams to reapply for fewer positions. A leaked workforce plan shows the technology team's Australian-based share falling as staff numbers in India and Vietnam grow. The bank said the cuts would simplify its operating model, with restructuring costs estimated at about $300 million. The Finance Sector Union called the move disgraceful and said it would bring chaos to staff.
Westpac has announced job cuts. The union accuses the bank of using NAB's mass redundancy announcement as cover for its own restructure. Separately, the government has extended the pause on KPMG bidding for Australian government work until February 28, 2027, following an independent review and the audit leaks scandal. The Australian share market closed lower after gains on Wall Street.
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BioWare, the studio behind Mass Effect, Dragon Age and Neverwinter Nights, is closing. The studio announced the news on social media on Wednesday afternoon, saying early development on the next Mass Effect project is also ending. The announcement came minutes after a Bloomberg report on 400 job cuts across parent company Electronic Arts, including 50 at BioWare. BioWare was founded in 1995 and joined Electronic Arts through a 2007 purchase. Electronic Arts was taken private last year in a $55 billion deal.
Investigators James Guthrie and Adam Lucas argue that Australian public universities present a financial crisis that audited accounts do not support. They say universities report managerial "underlying" results instead of statutory accounts, which show large net assets and operating surpluses. The authors point to job cuts, consultant spending and property ventures, and call for laws that would require reconciliation with statutory accounts, full disclosure of spending and personal executive accountability.
National Australia Bank has announced plans to cut up to 2,500 internal roles in the 2027 financial year, about 6 per cent of its internal workforce. The bank expects up to 1,500 of those roles to be affected before the end of 2026. NAB says the changes aim to improve productivity, reduce costs and free up investment in technology and business growth. Corporate functions and management positions will be the most affected, while customer-facing banking roles are not expected to be materially impacted.
The ASX 200 fell 28.80 points, or 0.33 per cent, to 8816.90 on Tuesday, after recovering from early falls of more than 1 per cent. Shares in BHP slumped 1.59 per cent after the miner reported copper output of 400,000 tonnes in the three months to September, 19 per cent lower than the previous quarter. National Australia Bank also fell 1.75 per cent after announcing 2500 job cuts to simplify its operating model. Technology stocks recovered, with WiseTech Global, Xero and Technology One all rising, while Commonwealth Bank edged up 0.14 per cent.
NAB has announced it will cut 2,500 staff to make the bank simpler and more efficient, with its chief executive saying customer-facing roles will be largely unaffected. ANZ has also flagged job reductions. The writer warns that if other large banks and companies follow, the economy could weaken further. Productivity has fallen, the Reserve Bank has raised interest rates four times this year, and some economists warn that more job losses could bring a recession.
Australian shares fell on Tuesday, dragged lower by the big banks and major miners. The S&P/ASX200 index closed 28.8 points lower at 8816.9, after recovering from an early drop of as much as 98 points. BHP shares fell 1.6 per cent to $59.50 after its quarterly copper output dropped 19 per cent to around 400,000 tonnes, below analyst expectations. NAB shares fell 1.8 per cent after the bank announced plans to cut 2500 jobs over 2026/27. Ingenia Group rose 9.7 per cent after its takeover talks with Warburg Pincus were extended, and Cochlear gained 5.2 per cent.
National Australia Bank is cutting 2,500 jobs, about 6 per cent of its workforce. The bank said most of the redundancies will happen before the end of the year. It cited a tough economy, competition and rapid technological change. The move follows similar cuts at other big banks, including ANZ's 3,500 job cuts announced last year. The Finance Sector Union said the cuts would place further strain on staff already overwhelmed by heavy workloads.
National Australia Bank has announced plans to cut 2500 roles, about six per cent of its workforce, over the full financial year. The bank said 1500 jobs will go before the end of 2026. Finance Sector Union national assistant secretary Nicole McPherson said the timing was poor, with many staff already under heavy workloads. Bank chief executive Andrew Irvine said the changes aim to improve efficiency and would not directly affect customer-facing positions. Union officials have asked whether artificial intelligence is behind the cuts, and the bank has not yet answered.
National Australia Bank has announced it will cut up to 2,500 jobs, about 6 per cent of its workforce, by mid-2027, with up to 1,500 roles going before the end of this year. The bank also plans to reduce its use of consultants and external contractors. It has flagged a restructuring charge of about $300 million, pre-tax. The Finance Sector Union called the timing disgraceful, while an academic said the bank should explain the role of artificial intelligence in the cuts. NAB chief executive Andrew Irvine said customer-facing banking roles would not be materially affected.
The National Australia Bank says it will cut up to 2,500 internal roles, about six per cent of its workforce, in the 2027 financial year. Up to 1,500 of those roles will go before the end of 2026. The bank also plans to reduce its use of consultants and external contractors. Chief executive Andrew Irvine says customer-facing banking roles will not be materially affected. The restructure is estimated to cost about $300 million. Westpac has also begun a restructure, but says 102 roles have been removed so far.
National Australia Bank has announced plans to reduce its workforce by as many as 2,500 positions, equal to roughly 6 per cent of its staff, with the cuts due to take effect by mid-2027. The announcement weighed on the bank's share price during the session. Separately, trading in NextDC, a local data centre operator, has been halted pending an announcement that appears connected to a disagreement over power poles in a suburban Melbourne street. The day's business coverage includes further market commentary from specialist reporters.
Werribee Open Range Zoo workers have raised concerns about recent job cuts, which they say will leave visitors, animals and staff worse off. Zoos Victoria said a review showed changes were needed to better position it for the future. Eight staff at Werribee will be made redundant, with 23 others redeployed into new roles from 19 October. The Community and Public Sector Union said the cuts affect admin, sustainability, visitor engagement and horticulture. Zoos Victoria said rising costs are unsustainable and its purpose of fighting extinction remains unchanged.
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The Public Service Association says the NSW Department of Customer Service has not properly consulted staff over a restructure of Government Technology Platforms. The plan could remove 80 permanent roles, a 20 percent cut to the unit's permanent workforce, while expanding temporary positions. The union calls this casualisation by stealth. It says the department has withheld Treasury submissions, business cases and financial models from staff, and that consultation without that information is not genuine. The department has said extensive consultation has taken place and that it is complete.
A NSW parliamentary inquiry has found the University of Wollongong and five other universities appeared to overstate their financial problems and went too far in restructures and staff cuts. Former UOW professor Adam Lucas accepted a voluntary redundancy after challenging the figures used to justify his role's removal. He said the financial model was never shown to staff for testing. Inquiry chair Sarah Kaine described some financial cases as faux crisis narratives. The committee recommended banning universities from publicly using adjusted figures that differ from audited accounts.
Mining company BHP expects about 300 operational roles to be cut from its iron ore mines in Western Australia. The roles will go from sites at South Flank, Mining Area C, Newman and Jimblebar in the Pilbara region. A company spokesman said the changes aim to keep the business operating safely, effectively and productively. BHP says it will try to move affected workers into other roles within the company where possible. The company is still working through the proposed changes with the people involved. It employs about 16,000 people across its WA iron ore mines.
