Around 300 employees of the ANZ Bank in the Pacific region are expected to lose their jobs.
The bank's CEO John Velegrinis said in a press release that the job cuts are part of a two-year programme to improve the bank's operating model.
He said there will be changes to some existing jobs in ANZ businesses throughout the Pacific.
However he said that the bank believes more jobs will be created in Fiji as a result.
Mr Velegrinis told Fiji Live a key objective is to reduce inherent operating risks associated with banking in the Pacific, including money laundering.
The Fiji Bank and Finance Sector Employees Union secretary Pramod Rai says that the union is aware of the potential loss of jobs and is deciding what to do next.