Commonwealth Bank embarks on fresh redundancy spree with 119 jobs expected to be slashed

Six of the affected jobs are due to automation, the Finance Sector Union (FSU) said.

CBA has also cut 45 call center jobs by 2025 after rolling out an AI chatbot to handle customer queries.

“Still reeling from the 400 job cuts announced several months ago, CBA employees are now staring down the barrel of another 119 jobs being wiped out with seemingly no end in sight,” said FSU National Secretary Julia Angrisano.

“This time, CBA appears intent on eroding its frontline services, including mobile loan managers – the very services that humanize our banking sector.”

A spokesperson for the bank said that in a large company it is not unusual for department roles to shift and change.

“Within a workforce of this size, there is constant movement through hiring, internal mobility and recruitment into priority capacity areas,” a CBA spokesperson said.

“We also regularly assess the roles and skills we need to deliver the best customer outcomes. Some roles are shifting, new roles are being created and some roles are shrinking as programs end, work is simplified and the mix of roles and skills within the bank evolves.”

CBA said it employs about 49,000 people across Australia and expects to grow its workforce by 2,500 people by 2025.

A recent union survey found that three-quarters of CBA’s workforce are “dissatisfied” with their job security.

Of those surveyed at Bankwest, the number of dissatisfied employees represented 85 percent of the workforce.

The FSU said more than half of employees at both banks had considered leaving in the past 12 months due to “work pressure and uncertainty”.

“FSU members have said loud and clear through a recent survey that things are seriously wrong at CBA – 72 percent of employees are concerned about their continued job security, with offshoring and the rapid expansion of artificial intelligence cited as the top causes of insecurity,” Angrisano added.

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