ANZ Layoffs Job Cut: fires 400 employees

One of the financial companies of the world, ANZ learnt to go for a round of layoffs or job cuts. Since the entire global markets and businesses are suffering from the downturn, this financial company also seeems to be affected.

How many employees will be fired in the ANZ Layoffs Job Cut?
Around 400 employees will be laid off in ANZ layoffs.

Were there any previous ANZ Layoffs Job Cut?
Yes. It is learnt that the company was slowly cutting jobs over the past few months, and with these latest 400 job cuts, the total layoff figure from ANZ will stand at 800. This 800 firing is around 2% of total ANZ workforce.

Which segment or level employees are affected by ANZ Layoffs Job Cut?
Primarily, the middle level management.

When will the layoff actually happen?
Around December end.

As per the news, "While no one likes job losses, we have tried to ensure that in difficult circumstances our managers have all the help and support necessary to manage the situation and that all our employees, those departing and those staying, are treated consistently and with dignity," Mr Smith wrote in an email to his employees. He also warned that the effects of the current global financial crisis, which has caused large profit cuts at some of the country's biggest commercial banks and investment banking groups, would last for at least another two years.

Mr Smith's comments came as Macquarie Group's employees in Australia were digesting the impact of the news on Thursday that at least 100 jobs would be cut from its Sydney and Melbourne offices. These affected its investment banking arm and its property, real estate and infrastructure businesses.

Let's hope that alternative jobs are available to the affected employees of ANZ Layoffs Job Cut.