More than 100 administration jobs will be cut with ANZ announcing plans to simplify and become more efficient.
The Melbourne-based bank says 140 staff will be made redundant as it focuses on productivity in a lower growth environment.
"These changes are part of simplifying our business and being more efficient," an ANZ spokesman said on Thursday.
"While many of the roles are being lost as a result of introducing more efficient processes that require fewer people, we also need to ensure work is being performed in the right location."
Affected staff will be offered support services and opportunities for redeployment.
The job cuts were announced just days after the bank posted first quarter results described by analysts as disappointing.