Australia and New Zealand Banking Group Ltd. (ANZ.AX,ANZBY.PK,ANZ) is reportedly considering the elimination of up to 590 jobs in its call centers in Australia. The review is in progress and no decision has been reached yet.
The company may close its call centre in Mulgrave, Melbourne and these jobs may be shifted to the Philippines or New Zealand, affecting around 340 positions. Another 250 jobs at ANZ's South Melbourne office may also be eliminated.
The Philippines, where costs are less, is a favorite destination for companies globally to run their call center operations. In New Zealand, employee turnover is low and hence training expenses are also low. Further, office rents are also cheap in New Zealand.
ANZ.AX is currently losing nearly 3 percent at A$27.54.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.