News Formal

Westpac to layoff 300 workers in business and retail unit, says trade union

  • 📰 Reuters
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Australian lender Westpac Banking Corp will cut around 300 jobs in its consumer and business banking segments at a time of strong profit growth amid rising interest rates and soaring inflation, a local trade body said.

A pedestrian looks at his phone as he walks past a logo for Australia's Westpac Banking Corp located outside a branch in central Sydney, Australia, November 5, 2018. REUTERS/David Gray/File Photowill cut around 300 jobs in its consumer and business banking segments at a time of strong profit growth amid rising interest rates and soaring inflation, a local trade body said.

The Finance Sector Union of Australia said on Friday the country's third-largest bank would reduce headcount from its Consumer and Business Banking Division, citing a Westpac internal memo seen by the union., as at September 2022.FSU National Secretary Julia Angrisano condemned the cuts and said, "Westpac workers have already been struggling with excessive workload demands, and these cuts mean those who are left behind will need to do more with less.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Here are analysts' favorite regional banking stocks as sector recovers from its crisis lowsThese regional bank stocks have analysts bullish as the sector recovers from a liquidity crisis.
Source: CNBC - 🏆 12. / 72 Read more »