The Finance Sector Union (FSU) has revealed that the Commonwealth Bank of Australia (CBA) will cut 164 jobs from its Technology division, months after its Chair told shareholders the bank needed to ‘make sure we have the most capable engineering and digital talent’.
Last month the CBA posted $5.13 billion half year profits.
Last year, the CBA cut 105 technology, and 116 jobs in retail operations.
More than 150 of the latest round of job cuts at the CBA are based in Sydney, with the remaining roles in Melbourne, Brisbane, Perth, Hobart and Tweed Heads.
FSU National Assistant Secretary Jason Hall said the CBA stated at their most recent AGM that they can’t get skilled workers to Australia.
“On the one hand, the CBA tells its shareholders that it is facing a skills shortage in Australia and it has a commitment to digital talent. And on the other hand, it cuts a further 164 jobs from its Technology division.
“The CBA owes its workers an explanation for why its actions don’t match its words.”
Jason Hall said the CBA should also better explain its decision, which he described as cryptic and puzzling.
In a communique to affected workers, the CBA says the justification for its decision is ‘enhancing capability’ and that in order to ‘deliver digital customer experiences faster, we will require enhanced skill-sets to support new ways of working’.
“This explanation is almost meaningless and the workers losing their jobs deserve honesty and clarity at the very least.”
“We have written to the CBA seeking clearer answers.”
The jobs will be cut from the Retail Technology, Chief Technology Office, Institutional Banking and Markets Technology, and Business Banking Technology functions, mostly in its Eveleigh and Harbour Street centres in Sydney.
“This is a very difficult day for Commonwealth Bank workers and the FSU is offering support to anyone impacted. We will provide assistance to our members to ensure they receive the entitlements owed to them.”
Media contact: Rebecca Nicholson – 0409 216 053
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