Australia's ANZ bank to slash 1,000 jobs

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The Australia and New Zealand Banking Group on Monday announced it will slash about 1,000 jobs in Australia in response to a tougher global environment.

The move comes barely a week after fellow banking giant Westpac confirmed it will axe up to 550 jobs to protect its profits.

ANZ, the country's third largest bank by market value, said the permanent jobs will go this year among middle management, back office and support staff.

Philip Chronican, ANZ's chief executive for Australia, said the bank was 'acutely conscious of the impact of these reductions on individual staff members'.

"We will be making every effort to use natural attrition, to redeploy staff, and to utilise our training funds to support those people affected," he said.

"Although we need to make difficult decisions in the short term to adapt to the new global environment for banks, the economic outlook for Australia remains positive and this helps underpin our continued investment in customer service and in emerging areas of opportunity."

ANZ now employs about 24,000 staff in Australia and 49,000 worldwide.

It posted a 19 percent rise in annual net profit to Aus$5.36 billion (US$5.5 billion) for the 12 months to September 30, but warned at the time of difficult conditions ahead due to global economic volatility.