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Daily Dispatches: ANZ axes more jobs

ANZ has axed a further 248 jobs across the country as part of its strategy to slash the size of its Australian workforce. Yesterday afternoon staff at ANZ’s mortgage fulfilment centres in Sydney, Brisbane, Adelaide, Perth and Hobart were told their jobs would be outsourced. (Business Day)

ANZ is also facing more than $300m in writedowns on loans and investments relating to its troubled private equity operations. (Herald Sun)

The unemployment rate has jumped again as the slowing economy forces more companies to wipe employees from payrolls. (Sydney Morning Herald)

Any chance for the creation of a so-called people’s bank to lessen the dominance of the four major Australian banks appears to have been sunk within hours of the idea being aired. The federal government’s Brendan O’Connor says the banks in our economy have worked very well and there are no plans for a basic bank. (Sky News)

Accountants are under growing pressure from within their ranks to improve their ethical standards, after corporate collapses that have dragged the profession’s reputation through the mud. (The Age)

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