ANZ has warned investors to brace for a more than $1.1 billion blow to its bottom line when it releases its half-year updates in a little over a week.

The big four bank announced this morning its second-half profit for 2025 will be impacted by several "significant items", totalling a combined $1.109 billion after tax.

A large proportion of that is associated with the decision taken last month to slash 4500 jobs – 1000 of which were contractors, while the remaining 3500 were full-time employees.

ANZ said the cost of those redundancies will hit $585 million, although it drops to $414 million once tax is taken into account.

When it announced the job cuts, ANZ said customer-facing frontline roles would only see a limited impact, and chief executive Nuno Matos insisted the move was ne

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