Overview
- Westpac is reportedly preparing to cut approximately 1,500 jobs, representing about 5% of its 35,969-strong workforce.
- The bank has not confirmed the exact number but stated it is adjusting its workforce to align with cost management and investment priorities.
- CEO Anthony Miller's 'Unite' strategy focuses on simplifying operations, reducing branch footprints, and expanding digital and AI-driven services.
- Westpac recently reported a modest 1% dip in half-year profits to $3.3 billion, with revenues flat at $10.95 billion.
- The planned redundancies follow earlier branch closures and reflect a broader trend of workforce reductions across Australia's major banks.