Live updates: Bank of Queensland confirms 400 job cuts, ASX to open higher despite fresh warnings about Australia's economy

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Live updates: Bank of Queensland confirms 400 job cuts, ASX to open higher despite fresh warnings about Australia's economy
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There are fresh warnings that Australia's economy is heading toward a recession, as Deloitte flags a private sector hiring freeze. Follow the day's events and insights as they happen with our business reporters on the ABC News live markets blog.

Live updates: Bank of Queensland confirms 400 job cuts, ASX to open higher despite fresh warnings about Australia's economyLive updates: Bank of Queensland confirms 400 job cuts, ASX to open higher despite fresh warnings about Australia's economy

Follow the day's financial news and insights from our specialist business reporters on our live blog.We're still waiting to confirm if this process will include people offering themselves up for voluntary redundancies.The bank has just put out a statement to the ASX, where it has flagged "initiatives" to create a "simpler specialist bank".

Australians who have hit the pavement in search of a job recently might have found it tough going, as"Companies are focusing, at the moment, more on their retention strategy than attraction," Robert Half director Nicole Gorton said. The accounting firm also says it expects over 100-hundred thousand Australians to lose their job over this year and next.

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