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The Australian banking giant strikes again with 119 job cuts, leaving three-quarters of staff fearing for their futures.
Commonwealth Bank is set to slash 119 jobs, including a bulk from its subsidiary Bankwest, the sector’s union said as it accused the bank of “hollowing out” services to customers.
Australia’s biggest bank has flagged another round of job cuts just months after it announced 300 roles would go as it set out a road map for AI adoption.
The Finance Sector Union (FSU) said it understood 43 of the latest cuts would come at Bankwest, accusing CBA of abandoning customers in Western Australia.
Among the affected positions are mobile lending managers, who play a key role in helping customers navigate the home loan application process, the union said.
According to the Finance Sector Union (FSU), six of the roles set to be cut will be replaced through automation.
FSU National Secretary Julia Angrisano said employees were “still reeling” from the hundreds of jobs lost in recent cuts and are now facing the prospect of another 119 roles being eliminated, with no clear end in sight.
“This time, CBA appears determined to strip back its frontline services, including mobile lending managers — the very roles that keep our banking sector personal and human,” she said.
