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flag CBA cuts 300 tech jobs amid transformation, launching a $90M retraining program as profits rise.

flag Commonwealth Bank of Australia is cutting 300 jobs, primarily in technology, as part of a broader shift driven by evolving technology and work demands. flag While AI is not directly causing the cuts, the bank acknowledges it will reshape roles in the coming years. flag CBA launched a $90 million, three-year skills program offering training, job placements, and career planning to help employees transition into higher-value roles in areas like cybersecurity, engineering, and soft skills. flag The bank emphasized continued graduate hiring and workforce growth overall. flag The Finance Sector Union criticized the job losses given CBA’s $5.4 billion profit, calling for better retraining and redeployment. flag Similar staff reductions have occurred at other major Australian banks, reflecting industry-wide transformation.

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