Major Aussie bank to cull 1500 jobs after slashing the number of bank branches and ATMs across the country as part of it's ‘cashless society' push
Westpac will slash 1500 jobs within the next few months as the banking giant ramps up its push towards digital technology.
It's set to become than bank's biggest redundancy round in a decade- just months after 900 full-time jobs were axed.
Chief executive Michael Miller has asked managers to consider how they slash their teams by five per cent within the next few months, sources told the Australian Financial Review.
The bank confirmed redundancies are being considered but was tight-lipped on the final figure.
'While we continue to invest in extra bankers and customer-facing roles, other programs and initiatives may need fewer resources, a spokesman told the publication.
'This means, from time to time, we make changes that may impact some roles and responsibilities. As the skills and capabilities required in banking continue to evolve, so will our workforce.
It comes after Westpac shut down many ATMS and branches across the country.
The number of bank-owned branches and bank-owned ATMs has dropped by more than half in the last seven years, falling from 19,508 to 8,836 as of June 30, 2024, with Westpac and Commonwealth Bank among the key players in this reduction.
More to come.
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