Westpac has announced it intends to further migrate retail functions to digital as part of the bank’s customer ‘digital transformation’.
As part of this move away from teller work, the bank intends to cut 200 teller roles over the next 12 months.
This follows reports of the 1500 job cuts that were recently leaked to the media.
Westpac says part of this proposed digital migration will focus on the creation of other retail roles in Lending and Small Business.
Since the leaked reports of 1500 job cuts, our union has called on Westpac to provide further upskilling opportunities to employees undergoing massive change.
In this latest announcement, Westpac now says it will establish a $5 million capability fund to support existing retail staff to upskill for the future.
We don’t yet have the full details on exactly how this fund will work. However, we will continue to push Westpac for clarification, making clear our expectation is that the bank must provide genuine opportunities for affected workers so that no worker is left without a job.
Westpac CEO Anthony Miller says he values all Westpac employees and the contribution we all make. It’s now time to walk the talk and build a future for all impacted retail staff who wish to remain at Westpac.
At a time of dramatic change across the finance sector, providing alternative employment opportunities in the face of redundancies is what all employers should be doing.
We will be using Westpac’s fund as a test case for other employers,so your feedback is essential to getting this right.
We’ll let you know when we have more information on this fund and how it will work for affected employees.
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