ANZ Bank Group's further 230 staff redundancies to its Australian wealth business are not expected to affect its financial planning network, a company spokesperson told InvestorDaily.
The cuts follow job losses at the banking group in February and are in line with its decision to adapt to the changing business environment, the ANZ spokesperson said.
"These changes are part of the staff reduction of about 1,000 people we announced in February. We have now made the bulk of these changes," he said.
"We believe these changes put us in a stronger position to invest in new products and services for our customers and to take advantage of new opportunities for growth."
ANZ is in the process of working with retrenched staff to help them find new roles.
"We know the changes are very difficult for those affected. We are working hard to find other roles for as many of them as possible," he said.
"And we will support those that do have to leave with an expanded package of staff assistance developed in conjunction with the federal government and the Finance Sector Union. These include funds for retraining and for people facing hardship."
ANZ's dealer groups are: ANZ Financial Planning, RI Advice, Millennium3 and Financial Services Partners.
In February, ANZ announced it would cut 1000 permanent jobs in the next seven months to help cope with falling demand for financial services.
ANZ informed its staff in Australia yesterday that 492 roles would be eliminated immediately, while the remainder would be cut by the end of its 30 September fiscal year, the bank said in a statement at the time.
All 1000 job losses were in Australia, an ANZ spokesman said in February.
