Staff in roles no longer required are offered redeployment, CBA says
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More news: Responding to the Financial Sector Union's remarks on the bank cutting roles, the Commonwealth Bank of Australia said employees in roles that were no longer required had been offered redeployment
What they said: A spokesperson for CBA said: "All our branch employees have been offered redeployment. For the other roles that are no longer required in their current form, we are now working closely with our people to redeploy them into new roles and opportunities wherever possible".
"While a number of roles are affected, this may not mean that people will actually be leaving the group," they said.
"... As part of our focus on business improvement, we regularly review the skills we need, how we are organised and the demands of the business. That means some roles and work can change or may no longer be required."
CBA to cut jobs across tech and bank branches
The news: The Commonwealth Bank will cut 83 jobs across bank branches and offices in NSW, Victoria and Western Australia, according to the Finance Sector Union (FSU).
The numbers: The FSU said it received notification from the CBA that the bank will cut 55 jobs in NSW, 19 in Western Australia and nine in Victoria.
The cuts follow the bank a fortnight ago posting a half-year cash profit of $5 billion — a 3% slide year on year.
The context: The latest cuts include 19 roles across two CBA branches — on Elizabeth Street in Sydney and at the University of Melbourne.
Back office positions being lost include 32 roles in its NSW-based technology divisions, 22 in its Perth-based subsidiary Bankwest, and 10 in its customer remediation teams.
What they said: FSU national secretary Julia Angrisano said: “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".
“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,” she said.
The source: FSU media release
