Australia and New Zealand Banking Group
(ASX:ANZ) has cut 50 jobs from institutional and international operations in its Sydney and Melbourne offices.
According to the bank the staff changes are in response to slower economic growth in institutional banking.
Spokesman Paul Edwards says the changes reflect the need to adapt to the changed conditions for Institutional Banking globally.
The job reductions are a combination of managerial and administrative positions.
ANZ generated a net profit of $5.66 billion in its 2012 financial year.
