ANZ's NZ operation may escape worst of 'Nuno-geddon'

ANZ Group's new chief executive Nuno Matos and ANZ NZ CEO Antonia Watson. (Image: Getty/NZME/Jacques Steenkamp)

Wed, 10 Sep 2025

The Australia and New Zealand Banking Group's NZ arm may escape relatively unscathed from the 4,500 jobs being axed by the trans-Tasman lender, aside from about 20-30 job cuts.On Thursday, NZ staffers reported a glum mood inside ANZ NZ, believing they too would be affected by job losses dubbed “Nuno-geddon”, after the bank’s new chief executive, Nuno Matos.Get up to date fast. Join BusinessDesk's WhatsApp channel.Against this backdrop, several staff members have told BusinessDesk of their concerns about job losses in N...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}