Westpac Banking Corporation (ASX: WBC) Considers Cutting Up to 1,500 Jobs Amid Operational Restructurings

Wed 21 May 25, 06:45 AM |

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Highlights

Westpac reportedly plans to cut around 1,500 jobs, about 5% of its workforce, amid operational restructurings.

The bank aims to simplify operations, reduce branch footprint, and expand digital and AI initiatives under CEO Anthony Miller.

The Finance Sector Union criticizes the potential cuts, highlighting a lack of consultation and urging support for existing employees.

Westpac Banking Corporation (ASX: WBC) is one of Australia’s major banks, offering a wide range of financial services including retail, business, and institutional banking. It operates across Australia and New Zealand, serving millions of customers.

Westpac Banking Corporation is reportedly preparing to reduce its workforce by approximately 1,500 employees, representing about five percent of its 36,000 staff. The possible job cuts come as part of the bank’s ongoing efforts to realign its workforce with evolving business priorities and operational changes.

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