Australian Treasurer Meets with CEO of ANZ Bank as Job Cut Controversy Draws Attention

According to reports, Australian Treasurer Josh Frydenberg met with the CEO of ANZ Bank Group, Nuno Matos, on Tuesday to discuss the bank's plans to cut thousands of jobs. The report states that Frydenberg sought clarification on the extent of the personnel adjustments at the second largest bank in Australia. The government has expressed concern about the increasing number of layoffs in the financial industry. Since taking office in May, Matos has already pushed for the reduction of 3500 positions, restructured the senior management, and reorganized the bank's chief risk and compliance roles.