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Market Chatter: ANZ Group to Cut Over 100 Roles in Overhaul of Technology Teams

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ANZ Group Holdings (ASX:ANZ, NZE:ANZ) is overhauling its technology teams in a cost-cutting initiative that will impact more than 400 positions, with over 100 employees expected to lose their jobs, the Australian Financial Review reported Friday, citing an anonymous source and a bank spokeswoman.

The company is cutting some of the 1,500 permanent information technology roles it has in New Zealand under a plan to offshore software testing operations. It has been in negotiations with Indian firms Infosys and HCLTech, according to the report.

ANZ Group did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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