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Coherent (COHR) Stock Gets $105 PT and Maintains Outperform Rating
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Fed Highlights Inflation Ahead of Powell Speech
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Commonwealth Bank Reverses Job Cuts Decision Over AI Chatbots
Commonwealth Bank of Australia reversed a decision to cut 45 customer service roles due to new artificial intelligence technology after pressure from the country's main financial services union. The union took CBA to the workplace relations tribunal earlier this month as the company wasn't being transparent about call volumes, according to a statement Thursday from the Finance Sector Union. The nation's largest lender had said that the voice bot reduced call volumes by 2,000 a week, when union members said volumes were in fact rising and CBA had to offer staff overtime and direct team leaders to answer calls, the union said.
