Investment Banking

After ANZ’s accidental email layoffs, a brief history of banks’ firing gaffs

Investment banks roll out job cuts regularly, but they’re not always handled sensitively

Lehman Brothers’ collapse saw thousands of bankers laid off
Lehman Brothers’ collapse saw thousands of bankers laid off Photo: Mario Tama/Getty Images

Australian bank ANZ has apologised and offered counselling to around 100 employees who found out they were being let go after being emailed to ask that they return their laptops.

The incident has received wide-spread media coverage since the Australian Financial Review first revealed the error, which forced the bank to bring forward the planned layoffs and prompted an apology from its acting head of retail, Bruce Rush.

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