The Commonwealth Bank of Australia has made 221 roles redundant, resulting in 88 job losses and an effort to “redeploy as many [of those affected] as possible”.
According to the Finance Sector Union, positions impacted are within the bank’s technology business division, covering roles in risk, fraud, cyber security and data protection.
The job losses mainly impact NSW-based staff and the FSU is holding a meeting on Thursday to discuss next steps for those affected.
“These job cuts come only days after CBA announced record annual profits of $10.2 billion,” the FSU said.
A CBA spokesperson told iTnews “as part of our focus on business improvement, we regularly review the skills we need and how we are organised.”
“That means from time to time some roles and work can change or may no longer be required,” the spokesperson said.
“Where there are roles that are no longer required in their current form, we work closely with our people to redeploy as many as possible.
“These decisions are never easy nor are taken lightly. Our priority is to treat every individual with respect and care, taking time to talk with each employee impacted to understand individual circumstances and work with them on finding opportunities and building skills to support them for another role in or outside the bank.”
The CBA spokesperson added there are “no reductions to customer-facing team members who serve our customers in branch, on the phone or online.”
Just last month, the FSU also reported CBA retrenched around 251 jobs impacting its business banking and retail banking services divisions.
At the time it was said by the FSU on top of the 251 positions, another 822 roles were made redundant and 571 workers redeployed across Sydney and Melbourne.
CBA opted to not confirm numbers at the time.