Job Cuts in 2026: What to Do When You're Made Redundant

Over 50,000 Australians are expected to lose their jobs in the first half of 2026 alone, as major banks, tech companies, and corporate giants accelerate restructuring programs. If you've just received a redundancy notice, or you're watching your industry shrink and feeling anxious about what comes next, you're not alone and you're not without options.

Here's what's actually happening in the market right now, and more importantly, what you should do about it.

The Job Cuts Making Headlines in 2026

Understanding the landscape helps you make smarter decisions about where to focus your job search energy.

ANZ Bank

ANZ has announced significant workforce reductions as part of its ongoing technology transformation and cost-cutting measures following its Suncorp acquisition integration. Roles across operations, customer service, and middle management are being consolidated, with hundreds of positions affected across Australia.

Commonwealth Bank of Australia (CBA)

CBA has been quietly reducing headcount in its technology and back-office divisions as it pushes further into AI-driven automation. The bank confirmed in early 2025 that it would not replace a portion of departing staff, effectively shrinking team sizes across several business units.

Westpac

Westpac's multi-year simplification program continues to eliminate layers of management and streamline its product portfolio. The bank has cut roles across its institutional and consumer banking arms, with further reductions flagged through 2026.

Atlassian

The Australian tech giant announced a fresh round of global layoffs in early 2025, impacting around 5% of its workforce. Engineering, go-to-market, and product teams were all affected, continuing a broader pattern of tech sector rightsizing that began in 2023.

Qantas

Qantas has continued trimming corporate and support roles as it restructures following years of operational and reputational pressure. While frontline hiring remains active, corporate, finance, and strategy roles have seen notable reductions.

What These Cuts Have in Common

Look closely and a pattern emerges. Roles being eliminated tend to share a few characteristics: they sit in middle management layers, involve manual or repetitive processes now handled by automation, or exist within business units that no longer align with a company's strategic direction.

The skills being retained, and actively hired for, are different. Employers are investing in people who bring adaptability, digital fluency, cross-functional capability, and the ability to work alongside AI tools rather than be replaced by them.

Your 5-Step Strategy After a Redundancy

1. Give Yourself a Moment, Then Move Quickly

Redundancy is a genuine shock, even when you see it coming. Take a day or two to process it, talk to people you trust, and get clear on your financial runway. Then move with intention. The job market rewards those who engage early and consistently.

Avoid the trap of waiting until you feel completely ready. A polished application sent this week beats a perfect one sent in six weeks.

2. Audit Your Skills Honestly

Sit down and map out what you actually know how to do versus what roles in your target market require. Look at 20 to 30 live job postings in your field and note the skills, tools, and language that appear repeatedly.

Pay particular attention to gaps around data literacy, project management methodologies, AI-adjacent tools like Copilot or ChatGPT, and stakeholder communication at a senior level. Many of these gaps can be closed with short online courses through platforms like Coursera, LinkedIn Learning, or TAFE.

3. Rebuild Your Resume for the Market You're Entering Now

Your old resume was written for your old job. The market has shifted, and your resume needs to reflect both what you've done and how it maps to what employers are looking for right now.

This means tailoring your resume to each role you apply for, not submitting the same document everywhere. It also means understanding how Applicant Tracking Systems work. Most large employers, including the banks and corporates currently hiring to backfill specialised roles, use ATS software to filter applications before a human ever reads them.

CalibratedCV.com is built specifically for this challenge. It analyses job descriptions and helps you tailor your resume with the right language, structure, and keyword alignment to get through ATS filters and land in front of a hiring manager. If you're applying for competitive roles, this kind of precision matters.

4. Activate Your Network Before You Need It

Research consistently shows that a significant portion of roles, particularly at mid to senior levels, are filled through referrals and networks before they're ever advertised. Now is the time to reconnect with former colleagues, attend industry events, and be visible on LinkedIn.

Update your LinkedIn headline and summary to reflect where you're heading, not just where you've been. Let your network know you're open to opportunities in a direct, professional way. Most people are genuinely willing to help when asked clearly.

5. Target Growth Sectors Strategically

Some industries are actively growing while others contract. Right now, roles in cybersecurity, data and analytics, health technology, renewable energy, infrastructure, and government digital transformation are seeing strong demand across Australia.

If your background has transferable elements, consider how your experience translates into these sectors. A finance professional from a bank, for example, brings risk assessment, compliance awareness, and analytical skills that are highly valued in fintech, insurance, and consulting.

What to Brush Up On Right Now

Regardless of your target industry, these capabilities will strengthen almost any application in the current market.

• Data literacy: The ability to read, interpret, and communicate using data is expected at most professional levels now.
• AI tool familiarity: You don't need to be a developer, but knowing how to use AI productivity tools puts you ahead of candidates who don't.
• Project and change management: Certifications like PMP, PRINCE2, or even an Agile fundamentals course signal adaptability.
• Clear written communication: Strong business writing remains a differentiator, particularly for remote and hybrid roles.
• ATS-optimised resume writing: Understanding how to align your resume language with job descriptions is a practical skill with immediate impact.

You're More Hireable Than You Think

Redundancy can shake your confidence, but it doesn't reflect your value. The skills you've built across your career are real and transferable. What often makes the difference between a long job search and a short one is how clearly and strategically you present yourself.

Start with an honest skills audit. Rebuild your resume with intention. And make sure every application you send is calibrated to the role you're actually going for.

If you want a faster, smarter way to tailor your resume for each application, CalibratedCV.com was built to do exactly that. Try it on your next application and see how much stronger your resume can be.