We recently reported that Australia and New Zealand Banking Group (ANZ) is cutting jobs and selling stakes in many ventures in Asia.
As per Today Online, who spoke with sources from the bank, ANZ has retrenched around 50 people from several functions in Singapore, since February 2016.
This includes people from departments such as retail banking, marketing, wealth management, and business banking.
“There have been cuts across the board,” said a relationship manager with ANZ.
Another source from the bank who is employed in backend operations said: “This could be the time of the year where the bank decides to lay the axe. I just go to work looking at it on a day-by-day basis, not knowing if this will be the day it will happen to me.”
In Singapore, ANZ employs around 2,200 people in total.