The Finance Sector Union (FSU) has received notification from the Commonwealth Bank that 83 jobs are being lost (55 in NSW, 9 in VIC, 19 in WA). This comes just a fortnight after the CBA posted its half yearly cash profit of almost $5 billion.
The latest cuts hit major bank branches and back office jobs. They include 19 positions across two branches, Elizabeth St, Surry Hills in Sydney (10 jobs) and University of Melbourne (9 jobs).
Back office positions being lost include roles in Technology (32 positions in NSW) with job descriptions such as Systems Engineers, Business Analyst, and IT Project Manager.
Twenty-two Bankwest jobs are being lost in Retail Lending Operations, Consumer Finance, Everyday Banking Operations and Home Buying Operations. Four of these jobs are in NSW and 18 in WA.
And more jobs are going in customer remediation, including project managers, risk analysts and quality assurance analysts. (9 jobs in NSW and one in WA).
“This is an appalling decision by the CBA, cutting so many jobs on the back of a huge $5 billion profit, where bank workers could have been excused for thinking the continuing profit bonanza would give them some measure of job security,” said FSU National Secretary Julia Angrisano.
“But that’s not how the CBA works. This is simply about what the bank calls ‘efficiencies’ which is code for growing even greater profits at the expense of workers and the community.”
“Those losing their jobs are Australians with families, being pushed onto the unemployment queue at a time when many people are struggling with large mortgages and a cost of living crisis.”
Media contact John Hill 0412 197 079
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