Job cuts and further branch closures ahead, ANZ CEO says

ANZ CEO Shayne Elliott says jobs at the bank will be cut and branches will continue to close down as banking trends change.

When Mr Elliott started as CEO three years ago ANZ had 760 branches, today there are fewer than 600.

“Customers have voted with their feet and they’re not coming in,” he told 3AW’s Neil Mitchell.

He admitted the closures will lead to job losses.

“It does mean that jobs go,” he said.

Currently, ANZ employs 38,000 people full time, about half of which are in Australia.

Press PLAY below to watch what Shayne Elliott had to say about job losses and branch cuts.

Mr Elliott said the findings of the Financial Services Royal Commission were “shocking”.

“It was appalling,” he said.

The ANZ CEO said he’s ashamed of the way the bank treated its customers.

“We didn’t hold ourselves up to reasonable standards,” he said.

Press PLAY below for the full interview.