Australia's ANZ is to cut 1000 middle management, back office and support jobs by the end of 2012 in response to higher costs, regulatory demands and weakened consumer buying.
ANZ has already notified almost 500 employees of the termination plans, which are expected to save the bank $90 million per annum. More than 600 roles will be culled from the bank's Docklands headquarter offices in Melbourne.
The latest round of cuts comes just weeks after Westpac announced plans to axe 400 positions and offshore another 150 roles.
The country's Finance Sector Union has been actively campaigning against the cuts, and has set up a "save Westpac jobs" page on Facebook to generate support.
The move has inspired an angry backlash against the banking industry on social media sites.
Westpac - which recently hiked mortgage interest rates despite the central bank keeping the cost of borrowing on hold - has had to face up to a wave of online criticism from its own staff and the general public, amid complaints that its has been actively deleting negative comments from its Facebook Wall.
Westpac has defended the practice to local newspaper The Age, claiming that "partisan views" could deter customers from researching its financial products on social media sites.