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Westpac is cutting 200 in-person banking jobs amid restructuring, sparking union backlash over impacts on vulnerable customers.
Westpac is cutting 200 in-person banking jobs over the next year as part of a restructuring tied to shifting investment priorities and evolving skill demands, the bank said.
The Finance Sector Union (FSU) condemned the move as a "callous and short-sighted" cost-cutting effort disguised as digital transformation, arguing it undermines essential face-to-face banking, especially for vulnerable communities.
While Westpac stated it is hiring in areas like lending and small business and aims to retain employees through retraining and redeployment, including a new $5 million development fund, the FSU remains skeptical, citing unclear details and questioning the fund’s effectiveness.
The union insists workers should be reskilled and redeployed, not laid off, and vowed to hold the bank accountable throughout the process.
Westpac está recortando 200 empleos bancarios en persona en medio de la reestructuración, provocando una reacción sindical por los impactos en los clientes vulnerables.