The Commonwealth Bank of Australia has recently carried out personnel changes that affected IT staff, including data architects and software engineers, as well as employees in its business banking and retail banking services divisions.
The Finance Sector Union claims that 251 positions were retrenched, with an additional 822 roles made redundant and 571 workers redeployed across Sydney and Melbourne. However, the bank has not confirmed the exact numbers when contacted.
The changes have raised concerns among CBA staff about potential overwork and its impact on customers, as many experienced staff members were let go simultaneously. The bank stated that these decisions were made as part of their business improvement focus and that they work closely with employees to find suitable roles or redeployment options.
In May, the bank had previously cut 224 employees, including roles in innovation and technology divisions. Despite these changes, the bank has also opened a new technology hub in Australia to recruit tech talent from outside major cities.
