Tldr: Westpac has cut over 100 jobs in its premier banking division and other areas, adding to the 300 positions already eliminated from its head office. These reductions are part of an effort to simplify operations, improve accountability, and decrease costs. The premier banking division was targeted due to its customers’ preference for digital services. Westpac aims to decrease its workforce by 20% from 2020 levels by 2024 and has ended contracts with numerous contractors as part of this cost-cutting initiative. https://www.afr.com/companies/financial-services/westpac-axes-100-more-jobs-inside-bank-20230616-p5dh8d
CEO grinning ear to ear, I bet. Sucks for those losing their jobs.
22% jump in profits. Crazy nuts
When layoffs like these are announced I’d always love to see a breakdown of the roles being axed, and an historical graph of their employee count for context.
Yeah and a breakdown of ‘contractors also layed off’ that could be 2 people or 200.
Answer to my own question, 400 contractors https://www.afr.com/street-talk/westpac-s-cuts-400-contractors-amid-layoffs-20230615-p5dgw4
