When a bank makes you redundant via an email asking for your laptop back

I’ve been made redundant twice in life: once unfortunately and the other time voluntarily. The unfortunate event was an interesting moment. We knew the company were going to make lay-offs, and HR gathered everyone on a Wednesday to have meetings. We knew the meetings would be redundancies, but just did not know who would be laid off. It rapidly became clear. How? Well, if you walked into the meeting and the brown envelope saying please stay with us was letterbox sized. If you walked into the meeting and the envelope looked more like a parcel, well, goodbye.

By lunchtime that day, we all trailed down to the nearest wine bar and drank champagne for hours. Unfortunately, it was also the day that my most important customer rang me and I have no idea what I said, but the CEO never talked to me again. C’est la vie.

The reason I share this tale, is the headline of last week, which was ANZ making many of their bankers redundant. No problem with that. The thing is that before they told them they were redundant, the bank sent them an email asking for their laptop to be returned now that they no longer worked for the company. In other words, you got an email from HR saying you no longer worked for the company before any internal meeting with your boss or other colleagues informed you. Uh-oh. I think that’s worse than the small envelope versus the large on I went through.

In the usual corporate bilge way Bruce Rush, acting head of ANZ’s retail division, sent a follow up communication, stating that: “unfortunately, these emails indicate an exit date for some of our colleagues before we’ve been able to share their outcome with them. I deeply regret the distress this situation may have caused. Please know that we are committed to treating every colleague with dignity and respect as we move through this process.”

The Financial Sector Union, representing employees in finance, was not impressed saying that the error was a “disgusting way for workers to learn about job cuts — through a botched email instead of a respectful conversation. These errors are the direct result of the chaotic pace of change being forced through by ANZ’s new CEO.”

Ah yes, a brand new CEO. Nuno Matos, a former exec with HSBC, joined the bank in May tasked with sorting out the mess in ANZ’s bond trading department.

Hmmm. Well, at least ANZ has supposedly offered psychological counselling to the affected employees. Meanwhile, it does seem a little hypocritical that Chairman Paul O’Sullivan, in the company’s 2024 annual report, wrote that he wanted to “acknowledge the many thousands of ANZ employees who come to work every day to do their best for their customers and colleagues as we continue to build a bank that benefits all our stakeholders.”

Sure.

Mind you, I suppose it’s better than letting your favourite staff member leave via ChatGPT?

Re: Notice of Redundancy

It is with genuine regret that I write to inform you that your position of Senior Vice President of ANZ Bank has been identified as redundant following a comprehensive review of our business structure. This decision has not been taken lightly, and we recognise the significant contribution you have made to ANZ over the past twenty years.

Your dedication, professionalism, and leadership have been integral to the organisation’s success, and the impact of your work will be felt for many years to come. It is therefore with deep sadness that circumstances beyond our control have led to this outcome.

We fully appreciate the gravity of this decision, both professionally and personally, and we extend our sincere apologies for the distress this may cause. Please be assured that this redundancy is in no way a reflection of your performance or value, but solely the result of strategic changes required to ensure the future sustainability of the business.

In recognition of your long and distinguished service, you will receive [details of redundancy package, ex gratia payments, or pension entitlements], in addition to any statutory entitlements. We will also provide support with career transition, including outplacement services, career counselling, networking introductions, and more if needed.

Your notice period will commence on October 31st 2025 and conclude on December 25th, unless otherwise agreed. During this time, we remain available to discuss any questions you may have regarding the process, entitlements, or next steps.

On behalf of the Board and the entire organisation, I want to personally thank you for your loyalty, commitment, and exceptional service. It has been a privilege to work alongside you, and we wish you every success for the future.

Yours sincerely,

Arnold Hole, Chief, Narices Marrones