Major Aussie bank to axe nearly 100 jobs leaving staff under pressure and overworked
Staff at a Commonwealth Bank subsidiary are under pressure and overworked as they face a second round of mass job cuts within a year.
Staff at a Commonwealth Bank subsidiary are under pressure and overworked as they face a second round of mass job cuts within a year.
WA-based Bankwest, which is under the banner of CBA, has been transitioning business customers to its parent company since 2022.
Three years later, the project is complete and 120 staff will lose their positions, with only 30 expected to be directly appointed elsewhere in the company.
It follows the decision to axe 400 roles last year when the bank closed all of its branches and transitioned to a solely digital service.
The Finance Sector Union has said workers are fed up of being at constant risk of losing their jobs.
Since its decision to withdraw business banking three years ago, Bankwest customers and staff have faced uncertainty, National Assistant Secretary Jason Hall said.
Our members have told us time and time again they are under pressure and overworked in many areas of Bankwest due to the banks relentless slew of job cuts and offshoring.
A Bankwest spokesperson told Daily Mail Australia that the work for the 130-strong transition team was always due to be time limited.
Employees of Bankwest have said they are fed up of being at risk of losing their jobs as the Commonwealth Bank subsidiary axes 120 roles
The finalisation of the business banking transition program will result in the roles of approximately 120 WA-based colleagues being impacted, they said.
[CBA] Group currently has more than 100 open Bankwest and CBA roles in Western Australia.
It will work closely with colleagues impacted by this change, to support them in exploring new career opportunities in the Group.
The 130-year-old bank closed 45 branches last year.
Fifteen remaining branches based in regional areas were rebranded under Commonwealth Bank.
All 400 workers at those locations were offered new positions, with more than 300 choosing to accept them.
The bank said that, in addition, 500 CBA Group roles in technology, operations, and customer service would move to WA in support of Bankwests digital transition.
Unfortunately the WA Government has been sold a pup here – 500 group roles were promised in return for Bankwest going completely digital, Mr Hall said.
A Bankwest spokesperson has told Daily Mail Australia that the work for the transition team was always due to be time limited (stock image)
Instead, the bank continues to cut local jobs, he said.
Clearly that commitment was an empty promise by CBA to take the heat off for abandoning an entire community.
Our members have told us time and time again they are under pressure and overworked in many areas of Bankwest due to the banks relentless slew of job cuts and offshoring.
The union said it will be writing to WA Treasurer Rita Saffioti to seek an urgent meeting and to immediately intervene on the matter.
Daily Mail Australia has contacted Minister Saffioti for comment.
The WA government sold Bankwest to Britains Bank of Scotland in 1995 which itself became part of the London-based Lloyds Banking Group.
In 2008, Lloyds sold Bankwest to Commonwealth Bank for $2.1billion.
CBA expanded the Bankwest brand to major east coast cities as a challenger brand, despite it being owned by the nations largest bank. But then in 2018 it retreated to being a WA only bank.
As of 2024, about 2,100 branches have been shuttered across all major banking institutions over the course of six years.