Australian bank ANZ has been forced to apologise to employees after emails were sent to them asking them to return their laptops – before management had told them they were losing their jobs.
Automated emails were sent out earlier than planned to more than 100 bankers, with a spokesperson saying the company had “apologised unconditionally” for the error and distress caused.
The Financial Times reports that conversations were planned for next week over the jobs of those involved in the redundancies, while Bloomberg says talks were then accelerated, with all involved informed of their futures by the end of Thursday.
A subsequent apology email sent out Bruce Rush, acting head of ANZ’s retail division, was seen by the FT. “Unfortunately, these emails indicate an exit date for some of our colleagues before we’ve been able to share their outcome with them,” it read.
“I deeply regret the distress this situation may have caused. Please know that we are committed to treating every colleague with dignity and respect as we move through this process.” ANZ offered psychological counselling to the affected employees, it has been reported.
ANZ is undergoing change after the appointment of a new CEO, Nuno Matos, who previously held an executive role at HSBC. A new strategic plan is expected to be announced later this year by Mr Matos, who recently told staff to “increase productivity” levels and “reduce inefficiencies”.
Prior to Mr Matos’ arrival, ANZ was under investigation over Australian bond sales and since he joined in May, several executives have departed their roles.
The Financial Sector Union, representing employees in finance, said the error was a “disgusting way for workers to learn about job cuts — through a botched email instead of a respectful conversation. These errors are the direct result of the chaotic pace of change being forced through by ANZ’s new CEO.”
ANZ serves over 8.5m retail customers across 29 different markets globally, with business customers taking the total to more than 10m. It has more than 42,000 employees all told.
In the company’s 2024 annual report, a letter from chairman Paul O’Sullivan read he wanted to “acknowledge the many thousands of ANZ employees who come to work every day to do their best for their customers and colleagues as we continue to build a bank that benefits all our stakeholders.”
The company share price had struggled between 2022-2024 but is up 18 per cent across 2025 so far.
