ANZ cuts 200 jobs in Australia as lending slows in sluggish economy

 Signage for Australia & New Zealand Banking Group Ltd displayed outside one of the bank's branches in Sydney, Australia.
Signage for Australia & New Zealand Banking Group Ltd displayed outside one of the bank's branches in Sydney, Australia. PHOTO: BLOOMBERG

SYDNEY (Bloomberg) - Australia & New Zealand Banking Group is cutting about 200 jobs in its Australian unit as lending growth slows in a subdued economy.

The cuts will largely be in Melbourne and affect managerial and back-office roles in areas such as marketing and project management, Melbourne-based spokesman Stephen Ries said in an e- mail.

"The changes are in response to subdued economic conditions, low lending growth and the need to simplify our business and improve productivity," he said.

The lender also has an external hiring freeze in place, Ries said.