The two sentences that almost never meet: AI and job cuts in ASX 200 annual reports

Cybersecurity: NAB is using AI to make the adoption of new cloud services safer and faster, reducing assessment time by more than 90% while helping identify and address cyber security issues earlier.

On 20 October 2026, the Group announced changes to simplify its operating model, including an expected reduction of up to 2,500 roles during the year ending 30 September 2027. The Group expects to recognise a restructuring charge of approximately $300 million before tax in the 2027 financial year, primarily relating to redundancy, redeployment and organisational redesign costs.

AI assistants give employees instant answers to serve customers more efficiently

The composition of the workforce continued to change driving a reduction in average FTE of 3%.

AI continues to transform how and where customers shop. It is also transforming the way our teams work and helping to streamline operations and automate workflows to drive greater efficiencies.

Following the announced cessation of the Group’s contract with Endeavour Group for warehouse operations at its Melbourne Liquor Distribution Centre (MLDC) in September 2028, the Group recognised a provision of $61 million for one-off closure costs. This primarily comprises a redundancy provision of $53 million.

We increasingly incorporate artificial intelligence, or AI, including machine learning, into certain products, software solutions and business processes to enhance patient engagement, support clinical workflows and improve operational efficiencies.

During the year ended June 30, 2026, we incurred $22 million of restructuring related charges for employee severance and one-time termination benefits associated with workforce planning activities.

By embedding AI into everyday work, BlueScope supports employees to streamline workflows, improve decision-making and deliver greater value to customers and the business.

Underlying financial results for FY2026 reflect the Company’s assessment of financial performance after excluding (pre-tax): restructuring and redundancy costs ($79.8M), business development costs ($27.4M), earnings from a business to be discontinued ($18.5M), costs relating to climate related investments ($7.4M) and operating disruptions ($0.2M), along with a gain on the sale of a joint venture interest ($57.0M) and a gain on discontinued operations ($4.4M).

We are also carefully exploring AI use cases to improve our administrative processes.

Employee benefits and contractor costs included $16.2m of redundancy costs ($6.4m in pcp).

At Boral, AI-enabled logistics routing and batch scheduling are live, reducing cost per delivery and overtime in dispatch.

SGH restructuring and redundancy costs of $15.7 million primarily relate to optimisation of the Coates branch network and restructuring of Boral’s asphalt business in Victoria and cartage arrangements in NSW, and restructuring of overhead roles in WesTrac.

For example, the role that technology can play in Aurizon’s future remains under active review with AI and data science helping improve productivity and the way we operate assets such as rollingstock and track infrastructure.

FY2026 excludes $5m redundancy costs (FY2025 excludes $4m redundancy costs).

As the Group accelerates the adoption of generative and agentic AI to drive productivity and innovation, managing this risk is critical.

This ratio has been adjusted to exclude the impact of redundancy costs before tax (FY26: $8.1 million, FY25: $8.0 million, 2H26: $3.5 million, 1H26: $4.6 million).

The development of myhub builds on the work of HUB24's Innovation Lab, which continues to explore how emerging technologies, including artificial intelligence, can be applied to improve productivity, reduce administrative burden, and enhance customer outcomes for financial professionals.

The Group has recognised $182k in FY26 for redundancy provisions. (FY25: $nil).

Deployment of generative AI tools and capabilities to enhance productivity, support decision-making through improved data insights, streamlined documentation and reporting, and improve the speed and quality of responses to customer and operational queries

Redundancy/ severance $7.0m

In February 2026, the Group launched an AI Academy to support employee upskilling and build practical AI capability to improve efficiency, consistency and decision making.

These changes resulted in an FTE decrease of 9% on FY25.

Investment in AI strategic revenue management software and process automation led to capability enhancements and efficiency gains.

During FY2026, the Group made total redundancy cash payments of $37.1 million, comprising $32.6 million relating to the Strathmerton and peanut processing business closures and $4.5 million relating to separate head office cost-saving initiatives.

Artificial Intelligence (AI) continues to present opportunities, including cost efficiencies and new revenue streams.

$15.8 million related to redundancy and restructuring programs across the Group, including $4.7 million related to professional services and consultancy fees; and

AI is playing an increasing role in how PEXA operates, supporting productivity, improving customer outcomes, and enabling smarter decision-making.

Redundancy and restructuring related costs increased by $(3.9) million to $(10.0) million, following management's review of the Group's operating model to improve productivity and implement a more cost-effective operating structure;