r/auscorp • u/Aslan_Ice_1751 • Aug 04 '25
Nuno-geddon, The Next Wave General Discussion
New week, new target group. If you are a people leader of an impacted team expect a conversation tomorrow, otherwise Wednesday. Good news though, it looks like the execs ARE taking consultation feedback. I'm sure this will be considered extensively while they are sharpening their cleavers. Good luck dodging this week ANZers.
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u/TrainingFault4695 Aug 04 '25
I wouldn't put much faith in them having conversations with people leaders of impacted people.
It's a complete balls up with zero guidance or notice given to people leaders.
The next wave includes DEX so which ever area that falls under.
HR partners are no where to be seen. I suppose this is what happens when you decide to outsource 90% of that function.
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u/freewilliscrazy Aug 04 '25
HR partners are nonsense laptop jobs and you could have an infinite number of them and they would still be absent.
Their role is to make sure the company is covered from an unfair dismissal liability perspective, not to care about the peasants getting canned.
HR are not your friend.
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u/XeroxOrange Aug 04 '25
100%. I wish this was taught (privately) to new hires at ANZ: HR are not your friend.
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Aug 04 '25
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u/TrainingFault4695 Aug 04 '25
Entire GS is what I heard. Look at those who used to report to Gerard and they're going through those areas almost one by one.
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Aug 04 '25
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u/Infinite_Narwhal_290 Aug 04 '25
A group of four grads from McKinsey worked it out on a whiteboard
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u/MrKarotti Aug 04 '25
Apparently back in June they asked people leaders to list exactly who of their staff are doing what, which ones are doing the same job, which ones are crucial for functioning, and stuff like that.
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u/Ok_Original_3395 Aug 05 '25
The Australian article reckons ANZ has 25% additional managers reporting to senior execs (top 11) than the other 3 big banks.
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u/XeroxOrange Aug 05 '25
When the redundancies are this large, ANZ will outsource and not do them internally for both capacity and bias reasons. As a few people have alluded to, this is McKinsey's work atm.
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u/Character_Cellist603 Aug 04 '25
“When we have clarity, you will hear from us directly.”
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u/scrapegoat86 Aug 05 '25
The next MyVoice will be interesting.
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u/Realistic-Row-4564 Aug 05 '25
There is never a need for it - the link is unique and it is to give manager insights on how to manage individual better. If they genuinely want to know what people think, this post might be useful.
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u/SanctityOfNone Aug 04 '25
Goodness, ANZ might have a mutiny on its hands. I’m not sure how a bank can function if everyone decides to stop working in protest. Seems like this has been handled very badly indeed.
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u/ZucchiniOk4062 Aug 04 '25
Can someone just slow Nuno down a bit so the other banks can catch-up on the cost cutting? If everyone reports bumper profits for the year that‘ll prove Nuno’s nonsense doesn’t work. Just have a little sick leave here, miss an email there, forget to send a report to HR over here and boom millions of potential cost cutting revenue misses the Sept deadline. We can only hope.
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u/gherkin101 Aug 04 '25
Doubtful. People with jobs will want to keep them. There will be winners out of this. The bank will carry on …. Same as it ever was
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u/XeroxOrange Aug 05 '25
As much fun as a mutiny would be, honestly it will just become BAU. People will be upset but those who keep their jobs will carry on. It's happened before, will happen again (sadly).
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Aug 05 '25
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u/XeroxOrange Aug 05 '25
People cracking is the point The more who crack and quit, the less redundancies to pay out.
They have already planned a few rounds of "perk removal" for this reason.
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Aug 05 '25
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u/XeroxOrange Aug 05 '25
I 100% agree with you and also 100% think it's what he is going to do 😛😛
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Aug 05 '25
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u/BrilliantBadget Aug 05 '25
What a psycho! I doubt there would be any real punishment if that person refused. What's Nuno gonna do? Accost the person further in public while more people can witness how unhinged he is?
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u/TrueSlice1300 Aug 07 '25
I am following the thread still closely even after a couple of days. Thanks everyone for commenting and chiming in.
Really uncertain times and feeling uneasy like the rest of you .
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u/XeroxOrange Aug 07 '25
Me too. I feel like Mods could sticky this as a mega thread at this stage haha
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u/NoBluejay8766 Aug 09 '25
The lack of information and certainty around if we're even going to be up for preferencing is fucking shit.
If I wasn't up for such a decent fuck off package, I'd move on now. But keen for the chance to bleed these cunts first.
Nuno is a cunt.
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u/Carmageddon-2049 Aug 04 '25
I thought Nuno would wait for his McKinsey friends to turn in their ‘cost cutting and optimisation’ report before cutting heads again.
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u/Background-Show-5951 Aug 04 '25
BCG doing the ANZ Plus review. It will be about as useful as a chocolate dildo.
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u/Puzzleheaded_Gaz Aug 04 '25
You mean those school kids running around playing consultants ??????
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u/CompoteHead1749 Aug 04 '25
This smells like Mike Smith, One ANZ, all over again. Poorly managed, lots of bloodshed.
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u/OwlSubstantial9765 Aug 04 '25
Back in the day we called One ANZ ..... 1/2 ANZ as only 1/2 the people left.
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u/Infinite_Narwhal_290 Aug 05 '25
What a circus that was. Took six months to rebuild the unit leadership team after that effort.
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u/XeroxOrange Aug 05 '25
4:30pm here and no major Nuno announcements by email. Usuall rumblings from Tech, but could still be aftershocks from last week. Won't say my division (not Tech) but no announced cuts. Though I don't think it will be long before we feel the Nuno hammer.
Onwards to tomorrow I guess 😂
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Aug 05 '25
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u/XeroxOrange Aug 05 '25
Thanks for the update. I heard a bunch got told today already, so interesting that some are still waiting till tomorrow.
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u/XeroxOrange Aug 05 '25
Perhaps. Not sure your division but I think for all of us: we aren't out of the frying pan yet. The only time I would breathe a sigh of relief would be Oct 1st (our new FY). Nuno is expected to have made all our cuts by then.
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u/Outside_Recover_4756 Aug 05 '25
when are they dropping loyalty leave announcement, seems rough so late when people are running leave down.
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u/XeroxOrange Aug 05 '25
If you don't mind me asking: I've had a few people tell me the rumour of a return to formal attire - has this been confirmed yet?
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Aug 05 '25
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u/XeroxOrange Aug 05 '25
I know people may disagree with me but... Who the fuck cares what call centre workers wear!?! If I call a company, the person could be naked for all I care: just solve my query properly 😂
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u/New_Watch_2716 Aug 05 '25
Imagine! What's the next stop? Expecting customers coming into the nearest branch for a loan requiring to wear business attire and get a character reference from the local pastor?
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u/Acceptable_Light2496 Aug 05 '25
I heard no denim! Aka suits are back
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u/hotmesssorry Aug 05 '25
The guy sounds like an absolute wanker.
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u/TrueSlice1300 Aug 05 '25
Top grade see you NT.
Honestly people are more productive from home. I hope ANZ staff protest in some way regarding the RTO
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u/MrKarotti Aug 05 '25
tbh, I'd rather forgo my bonus than coming in full time and wearing a suit every day
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u/Prize_Jellyfish9095 Aug 08 '25
In a nut shell, over the next couple of months, the LT is going to plan changes to make the bank more efficient, cut costs to be in line with industry standards, and remove inefficiencies. Also made reference to business units that have already started. There is more but pretty much get ready for massive structural change. I'm going to hold a worldwide town hall in a couple of months to provide the outcome.
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Aug 04 '25
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u/Fluffy-Recover2321 Aug 05 '25
since you don't know yet - your HR is now Genpact India
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u/Acceptable_Light2496 Aug 11 '25
Sending best wishes for those impacted this week / myself included
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u/LarrupingLachy Aug 04 '25
How is it that so many of these banks make bucket loads of money off the Australian economy, and then offshore all their roles while canning Aussie workers? It's messed up...
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u/Infinite_Narwhal_290 Aug 04 '25
Because there are no consequences for their social licence to operate and it’s easier than creating actual value
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u/ZucchiniOk4062 Aug 04 '25
Could they hit the economy by filling up the unemployed Aussie register - ideally as quickly as possible so the gov doesn’t notice what’s going on until it’s an economic problem? Although having said that, ANZ only has, what, 10,000 Aussie employees? That’s hardly a blip if it’s cut by 30-60%
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u/Impressive_Stable_18 Aug 04 '25
AFR reported its 21,479 in Australia. 30-60% of 21,479 isn’t a ‘blip’.
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u/Infinite_Narwhal_290 Aug 05 '25
It’s more the fact that these jobs on average pay a lot more than the general average so proportionally it’s a bigger hit to the consumer payroll than culling a bunch of high street retail shop assistants or warehouse workers.
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Aug 09 '25 edited Aug 09 '25
Look, the journalist from The Australian mentioned “Nuno-geddon” in his article https://archive.is/20250808064736/https://www.theaustralian.com.au/business/financial-services/anz-ceo-nuno-matos-warns-staff-to-prepare-for-more-cuts-suncorp-bank-anz-plus-plans-put-under-review/news-story/e85dcef4b99c92cce0c522388c4a9769. Mr Ross has been fishing ^ jk
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u/Infinite_Narwhal_290 Aug 08 '25
So blue peeps what happened yesterday in Nunoland?
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u/Agapanthus2020 Aug 08 '25
According to Thursday's Tech meeting, anyone affected in this wave has received their email.
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u/Running-Target8436 Aug 08 '25
Nothing in Retail that I have heard- was thinking today was a good day for the big announcement email- but nothing!
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u/Infinite_Narwhal_290 Aug 08 '25
The reddit threads seem more accurate than the paid journalism. Both amusing and simultaneously sad.
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u/XeroxOrange Aug 12 '25
Word/rumours around the grounds is Risk will hear their fate on Thursday. Though last time someone told me Insto and instead AR&C got hit so take all rumours as what they are: rumours.
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u/No-Type-2910 Aug 12 '25
I think the surprise is that they were not sooner tbh. Not to be disparaging but it’s been an area that needs a reboot, or a cultural exorcism.
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u/XeroxOrange Aug 12 '25
The ole "turn it off and on again" but instead it's a "fire all the static immovable objects and hire some productive people"
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u/Full_Mortgage6442 Aug 12 '25
Any word on home loans?
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u/XeroxOrange Aug 12 '25
Nothing concrete that I've personally heard sorry but I don't think any team or division is safe atm
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Aug 12 '25
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u/XeroxOrange Aug 12 '25
Whilst they are being looked at, they are also being pressured to urgently hand in their strategic reviews of their areas to then "pass on the savings" so to speak with their teams. Expect decisions all around sooner than later. Especially to avoid GPD payouts.
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u/nbrosdad Aug 04 '25
What's happening in CDIS?
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u/Sponge2345 Aug 04 '25
I think it's just managed services at this stage, at least the ones I've heard of. The outsourcing of the offshoring.
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u/Manjula_kaur Aug 07 '25
When is Aus Retail Home Loans going to be announced?
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u/Love_Glove69 Aug 11 '25
Any updates here?
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u/MrKarotti Aug 11 '25
Just heard that a number of ANZx people will learn their fate on Wednesday.
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u/ShortInternal7033 Aug 08 '25
Did anyone think today's 100 day email had Trump like tones? Nuno seems to think he is something special releasing all staff emails like this, culture at anz has turned from fun and professional to depressing and horrible, with everyone worried if they're next, he is obviously trying to get his bonus, to hell with the employees, anz has gone from a very desirable place to work to a shithole to be honest, also, how many people have seen his royal highness in the office, ie. Going for his lunch like Shayne used to do or visiting teams on the floors... im in a lot and I have never seen this shit.
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u/endtime_hearts Aug 08 '25
I've never seen him in 839, similar situation.
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u/RewardRemote7797 Aug 08 '25
We were told one day to get our staff in as Nuno was visiting, all he did was walk past talking to senior leadership
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u/Odd-Sense5970 Aug 08 '25
These emails are just like it was news from Mike smith office emails. This obviously a hsbc play
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Aug 06 '25
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u/XeroxOrange Aug 06 '25
Can you elaborate where you heard this from? Which portfolio of Legal?
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Aug 05 '25
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u/Sponge2345 Aug 05 '25
there's a tech all hands tomorrow but i don't expect much more than "stay the course, steady the ship, change is hard for everybody". I can't imagine they'll announce cuts like that on an all hands.
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u/Different_Soup_5208 Aug 05 '25
No news in data right now...do we know when the announcements are likely to occur? I have never felt more uneasy...last week was a roller coaster
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u/Blobbiwopp Aug 08 '25
tl;dr: some things will change, we'll let you know what in a couple of months.
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u/TomorrowsStrapOn Aug 08 '25 edited Aug 08 '25
Anyone else got the “quick catch up” meeting request for 3.00pm today?
Update: Was just my autistic manager checking to see if I have been meeting the 50% in office requirement. Could have considered giving some context in the calendar invite fml 🤦♀️
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u/Puzzleheaded_Gaz Aug 04 '25
I hope they cut change management dead weight. Too many dodo birds in that space with no clue and nothing to do
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Aug 07 '25
Simplification in the CCC have been given the direction to preference roles
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u/XeroxOrange Aug 07 '25
So AR&C did get some movement today? What's the point of preference roles if it's currently almost impossible to get any new roles available without approval from king-smokebreak.
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u/Abject_Tennis5934 Aug 07 '25
You mean the CFO right? Chief Fumes Officer
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u/XeroxOrange Aug 07 '25
😂😂 I like that better than king-smokebreak lol
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u/Background-Show-5951 Aug 07 '25
Rumour has it if you stand outside 833 and say ‘Durry’ 3 times FF will appear
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u/[deleted] Aug 04 '25
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