LGBTQ+ publication Star Observer is reportedly undergoing a formal restructure to negotiate with creditors and avoid liquidation, according to ASIC and Mumbrella. Its publisher, Out Publications, appointed a small business restructuring practitioner in October, and the publication will continue to operate. QNews says it is independently operated and has no connection to Out Publications or the restructure. Reports had wrongly linked it to the publisher, which holds several other business names but not QNews.
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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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.
Staff at Mornington Peninsula Shire libraries have raised concerns about a proposed restructure due to take effect in early January 2027. Shire director of communities Cheryl Casey said no final decisions have been made and consultation with employees is underway. Current library positions are set to be made redundant, with permanent staff redeployed. Staff say the changes will leave too few people on the floor and disperse teams across locations. Somerville Library could transition to a community hub model with a mobile library, according to documents seen by The News.
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.
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.
