More than 200 employees are on the verge of losing their jobs across Sydney, Melbourne, and Perth.
After the Commonwealth Bank announced its record yearly profits of $10.2 billion, about 192 back office jobs, such as those in regular banking, consumer finance, house purchase operations, and lending, are to be terminated.
As per unions, the shift to automation is the reason behind such job cuts.
The bank refrained from commenting to confirm the figures.
In just a few years, the Commonwealth Bank has reduced the total number of jobs to more than 1000.
- Published By Team Australia News