Yesterday, CBA announced a further 164 job cuts, including from within their Technology division – the very area management recently claimed there was not enough local talent to fill.
This comes only weeks after announcing a half-year profit of $5.13 billion.
This time the cuts are from their Retail Technology, Chief Technology Office, Institutional Banking and Markets Technology, and Business Banking Technology functions.
CBA says these cuts are all in the name of ‘simplification’ and ‘enhancing capability’, whatever that means.
We understand this is difficult news for affected employees who were notified yesterday, and it will have a significant impact on workers’ lives and livelihood.
The FSU has asked CBA for clarification, including whether the upskilling of existing roles was considered.
If you’re impacted by these job cuts,please take a moment to complete our feedback form so we can provide you with any assistance you may need during this difficult time. You do have rights and our union will do everything possible to ensure you receive any entitlements owed to you.
These cuts come just months after CBA Chairman Paul O’Malley told the CBA AGM that the bank needed to “make sure we have the most capable engineering and digital talent”.
“In some cases there is just not sufficient capability in Australia […] The activities can all be undertaken in Australia, but not all activities of the skills we need are available at scale.”
CBA can’t have been serious when they made this statement, otherwise they would not be axing 164 Australian jobs from their Technology division, in addition to the 105 they cut last year. Once again, this is hypocrisy from CBA at its finest.
Much of their reasoning for these job cuts is very vague and cryptic. Not only do phrases like “we will require enhanced skill sets to support new ways of working” make no sense, they also do not sufficiently justify the cuts.
Remember, our union is here to support you – you can contact our Member Rights Centre during business hours on 1300 366 378 for any urgent advice and support. Please remember tocomplete our feedback form so we can ensure you receive any necessary assistance.
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