NAB cuts 2,500 jobs while National Australia Bank stock trades at EUR 24.89

Published on 10/21/2026 at 09:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

NAB plans to remove up to 2,500 roles by mid-2027. National Australia Bank stock costs EUR 24.89 on October 21, 2026, with 1,500 cuts due by year-end.

Restructure and upcoming results

NAB announced up to 2,500 job cuts on October 20, 2026.
The restructuring charge is AUD 300 million before tax in fiscal year 2027.
National Australia Bank stock traded at EUR 24.89 at 9:15 a.m. CEST at Lang & Schwarz on October 21, 2026.

NAB, AU000000NAB4, Illustration mit AI erstellt.

National Australia Bank (AU000000NAB4) plans to eliminate up to 2,500 roles by the middle of fiscal year 2027, including as many as 1,500 positions before the end of 2026. ABC News reported the announcement on October 20, 2026, after the bank submitted it to the Australian Securities Exchange.

What does the restructure cost?

NAB expects a pre-tax restructuring charge of AUD 300 million in fiscal year 2027, covering redundancy, redeployment and organizational redesign costs. The bank also plans to reduce its use of consultants and external contractors, while its chief executive Andrew Irvine said customer-facing banking roles would not be materially affected, according to The Star on October 20, 2026.

Recent figures show the pressure

NAB's third-quarter net profit rose 9.00 percent to AUD 1.81 billion on August 17, 2026, while underlying profit increased 6.00 percent to AUD 2.90 billion and net operating income rose 5.00 percent to AUD 5.50 billion, according to RTTNews. The planned workforce reduction therefore arrives alongside higher reported earnings but also a stated need to simplify operations and control costs.

Analyst target stays above the quote

Markets Insider reported on October 20, 2026, that Jefferies maintained a Buy rating and an AUD 46.08 price target. NAB's next scheduled reporting date is November 5, 2026, when it is due to announce its fiscal year 2026 results, according to the National Australia Bank shareholder center.

Stock quote after the announcement

NAB stock was trading at EUR 24.89 at Lang & Schwarz on October 21, 2026 at 9:15 a.m. CEST. The Australian listing was last quoted at AUD 39.93 on the ASX at 5:10 a.m. UTC on October 21, 2026, with a market capitalization of AUD 124.2 billion and a 52-week range of AUD 35.48 to AUD 49.45. The workforce plan and the November results date give investors two concrete markers for judging whether cost savings can offset the near-term restructuring charge.

The further course of trading is shown by the continuously updated real-time quote of National Australia Bank stock.