Westpac, one of Australia’s largest banking institutions, is facing criticism over its plans to close 20 more bank branches across four states in Australia. The move could result in the loss of up to 91 jobs, according to the Finance Sector Union (FSU).
The FSU’s national secretary, Julia Angrisano, has accused Westpac of abandoning its customers by closing a large number of branches over the past year. She has called for Westpac to reconsider its decision, saying the closures will have a negative impact on customers, particularly those in rural and remote areas who rely on bank branches for their banking needs.
“Westpac’s branch closures will mean customers will have to travel further and wait longer for basic banking services. It’s a real blow to communities who rely on these services,” said Angrisano.
Westpac has defended its decision, saying the closures are necessary to remain competitive in the current banking environment. The bank said it is investing in new technology to improve customer service and will be offering more digital banking options in the future.
“Westpac is making the controversial decision to close branches month after month in order to increase profits and bonuses for senior executives,” Angrisano said.
“It is deeply concerning that Westpac can keep eliminating jobs and shutting down branches with no action being taken to prevent it.”
Five branches located in Kin Kora, Milton, Gatton, Cloncurry, Ingham, and Tully in Queensland, as well as Westpac branches in the Sydney suburbs of Newtown and Potts Point, are all closing.
Westpac-owned Bank of Melbourne is set to close eight of its branches in the Casey, Chirnside Park, Moonee Ponds, Melton Woodgrove, South Melbourne, Malvern, and Waurn Ponds suburbs.
