BNZ proposed restructure could impact ‘hundreds of jobs’

by NZ Adviser12 Oct 2016
The Bank of New Zealand has confirmed that a potential restructure of the bank could get underway, according to the NZ Herald.

BNZ has not said how many jobs could be impacted but The Herald reported that hundreds of jobs may be affected.

"From time to time, we look at how some teams are resourced,” a BNZ spokeswoman said in a statement. “Sometimes we recruit and create new roles, other times it may mean some teams get smaller.

"We are current consulting on proposed changes in some areas of the business. Because we are in consultation phase, we are not able to share any detail or to speculate on what the proposed changes may be."

The Herald questioned whether up to 500 jobs could be impacted and the spokeswoman said, "[I'm] afraid we are unable to share any more detail about the proposal because of the fact it is in consultation phase and owing to the privacy we must afford our people in regards to employment matters."

The bank has experienced a 16% drop in profit over the six months to March 2016 and currently employs 4500 permanent full time staff and 760 permanent part time staff, according to The Herald.

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