A union has condemned Commonwealth Bank of Australia over a plan to cut 300 jobs. It called the move totally unacceptable as staff prepare for another round of change at the country’s biggest lender.
The union said the size of the cuts raised serious concerns for workers and for the service customers get. It said this is especially the case if the jobs are in teams that handle day to day support and fix problems.
Details of the proposed job losses have not been made public. It is not clear which parts of the business are affected.
It is also not clear when the cuts would happen or whether the jobs would go through redundancies, voluntary departures or a mix of measures.
The union’s comments add to growing attention on job decisions across the financial sector. Major institutions have continued to reshape how they work as they manage costs and invest in new systems.
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For workers, the uncertainty can be immediate. Many have questions about redeployment options, heavier workloads and how quickly changes could be pushed through.
A reduction of this size would be closely watched by staff and the wider industry given CBA’s size and influence. Unions have repeatedly argued that banks should put secure jobs first.
They also say banks should consult properly with staff especially when changes affect long serving employees and specialist teams.
The union said it would keep pushing for clear answers on why the cuts are being proposed and what process will be used.
It warned job losses can have lasting effects on morale and on the bank’s ability to meet customer needs.
For now, employees are waiting for more information on where the cuts may fall and what support will be available for people whose jobs are at risk.
