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CBA cuts 300 tech jobs amid transformation, launching a $90M retraining program as profits rise.
Commonwealth Bank of Australia is cutting 300 jobs, primarily in technology, as part of a broader shift driven by evolving technology and work demands.
While AI is not directly causing the cuts, the bank acknowledges it will reshape roles in the coming years.
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.
The bank emphasized continued graduate hiring and workforce growth overall.
The Finance Sector Union criticized the job losses given CBA’s $5.4 billion profit, calling for better retraining and redeployment.
Similar staff reductions have occurred at other major Australian banks, reflecting industry-wide transformation.
CBA recorta 300 empleos tecnológicos en medio de la transformación, lanzando un programa de reciclaje de $90 millones a medida que las ganancias aumentan.