‘They are all tightening their belts’: Job cuts in the banking sector mount
Bendigo Bank's restructure targets technology roles to improve efficiency amid financial challenges, joining a sector-wide trend of significant job reductions, union reports.
- Several major banks in Australia are laying off workers due to technological changes and profit demands.
- Bendigo and Adelaide Bank plans to cut 158 jobs, mainly among technology employees.
- The National Australia Bank is cutting 410 jobs, while ANZ Bank is laying off 3,500 workers, indicating a shift within the banking sector.
- Hugh Dive from Atlas Funds Management noted that technological upgrades and the desire for increased profits are driving these job cuts in Australian banks.
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10 Articles
Bendigo Bank Restructure to Cut 150 Tech Jobs, Union Says
The Finance Sector Union (FSU) says Bendigo Bank is cutting 145 technology roles as part of a restructure that could affect more than 600 staff. The union has lodged a case with the Fair Work Commission, arguing employees were given just six days to respond to the proposed changes. Bendigo Bank has not confirmed the number of job losses but said it regularly reviews its operations and is focused on productivity. “Bendigo Bank’s purpose is to fee…
'Tidal wave': Bendigo Bank becomes latest to slash jobs with 145 roles feared affected
Bendigo Bank is joining the "tidal wave" of financial institutions cutting jobs, with 145 roles feared to be affected by a restructure. The Finance Sector Union said the roles will affect employees within the technology division, with customers to pay the price."Across the sector, workers are being asked to do more with less while fearing for their jobs," Finance Sector Union national secretary Julia Angrisano said.READ MORE: Albanese quickly …
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