Bank apologises for firing

European banks hit

ANZ's retail banking executive Bruce Rush said it was "not our intention to share such sensitive news with you in this way" as the firm cuts jobs in its retail banking business.

The bank said the emails were sent to some

The Financial Sector Union said the email caused "panic and distress" and was a result of the company forcing through a "chaotic pace of change".

The union's president Wendy Streets said it had not been consulted on the changes the bank was making.

"Speed and cost-cutting cannot come at the expense of dignity and respect for workers," Ms Streets said, describing the "botched" episode as "disgusting".

Mr Rush wrote in an email to