15 September 2026
Thousands of CBA workers tell CEO Matt Comyn they are at breaking point, as dismal pay offer labelled a ‘slap in the face’ and ‘a joke’
FSU National Secretary Julia Angrisano outside CBA Headquarters in Sydney
Around 230 already weary Commonwealth Bank of Australia (CBA) workers are facing a bleak Christmas after learning that their jobs will be gone by year's end.
The latest 'structural and operational changes' tragically brings the number of CBA workers jettisoned by Australia's richest bank this year to 1000.
This time, Technology staff in New South Wales are the hardest hit, with more than 172 roles to be axed. The rest of the 232 affected staff face redeployment as part of the restructure.
Business Banking, the Chief Operations Office, Institutional Banking and Markets, Retail Banking Services and Support Units also face major upheaval to bookend 2026.
The bank said redundancies should be finalised by the end of November.
CBA workers are already at breaking point and at a loss to understand the logic behind these cuts, which come off the back of CEO Matt Comyn landing a 30% pay rise. Mr Comyn will have nine million reasons to celebrate this Christmas.
The FSU is currently in negotiations with CBA for a new Enterprise Agreement. Among other things, the union is seeking an improved change and redundancy process and a commitment to upskill and train Australian-based workers to perform in-demand jobs. The union is also seeking a 5% pay rise for each year of the Agreement – a fair ask to adequately reward workers for helping the bank deliver a record $11 billion annual profit.
Quotes from Finance Sector Union National Secretary Julia Angrisano:
"These savage job cuts confirm that there will never be a profit margin big enough to satisfy Australia’s richest bank,” said Ms Angrisano.
“Despite ordinary workers helping the bank deliver a record $11 billion profit, Matt Comyn still deems it necessary to pull the plug on another 172 jobs just in time for Christmas.
"It is no wonder that 75% of CBA staff the FSU surveyed say they fear losing their job and half are considering leaving the company.
"The only chance Matt Comyn has of repairing his shattered relationship with workers is to stop the job cuts, give staff an above-inflation pay rise, implement better conditions and safer workloads, and guarantee the security of their jobs."
Media contact: Julian Maleevsky – 0430 781 993
FSU National Secretary Julia Angrisano outside CBA Headquarters in Sydney
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