2314 GMT - Australian banks' job cuts are seen by Citi analyst Thomas Strong as relating to company-specific events rather than a sign of anything negative on the industry's horizon. Strong thinks the big lenders' lack of discipline on employee count over the past five years represents a missed opportunity. He points out that Australia's largest lenders have materially grown headcount in what he calls the post-Covid years. He observes that the number of employees across the banks is now similar to 15 years ago despite industry consolidation and simplification. There should have been productivity and technological gains over the period, he reckons. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

September 14, 2025 19:15 ET (23:15 GMT)

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