SYDNEY, May 17 (Reuters) - ANZ Banking Group ANZ.AX , Australia's No.4 lender, on Tuesday said it has cut 200 jobs after posting its biggest half-yearly decline in cash profit since 2008.
ANZ blamed a slowing economy and weak lending growth for the cuts which would affect managerial roles and some back-office positions in marketing and project management, largely in Melbourne.
Australia's major banks are following in the footsteps of their global peers in cutting staff or shuttering unprofitable units to counter sluggish revenue growth after years of record profits and growing dividends. changes are in response to subdued economic conditions, low lending growth and the need to simplify our business and improve productivity," ANZ spokesman Stephen Ries said.
ANZ had announced 100 job cuts in March in its "emerging corporate" business, followed by some high-profile exits including global head of wealth Joyce Phillips and the head of its institutional bank, Andrew Geczy.
The Melbourne-based lender has 49,000 staff worldwide with just under half of that in Australia.
ANZ has put in place an external hiring freeze to maximise redeployment opportunities inside the bank, Ries added.
Earlier this year, Commonwealth Bank of Australia CBA.AX shut its five-person project advisory team.