BankWest cuts workforce by 400
(30 March 2009 – Australia) The workforce of recently acquired BankWest has been cut by 400, a change that has been put down to a contracting economy.
BankWest announced that of the 400 jobs cuts to occur, about 250 roles will go from the west coast and 150 from the east coast, via redundancies this year.
The job losses equate to around eight percent of a 5,100 strong workforce that has expanded from 3,340 during the past four years.
Despite the large cuts, BankWest said that no retail customer facing roles will be lost in stores and Customer Help Centres, nor will any stores close.
BankWest managing director, Jon Sutton, acknowledged that when he assumed the role of Managing Director late last year he believed there would be no job losses in 2009.
However, the rapidly deteriorating economy has meant that BankWest had to make adjustments if it was to remain an efficient and viable business, Sutton said.
The deteriorating national and Western Australian economies and a high cost base mean BankWest has no choice but to cut costs to remain competitive, he added.
FSU national secretary, Leon Carter, said that CBA chief executive Ralph Norris had promised federal Treasurer Wayne Swan and West Australian Premier Colin Barnett that there would be no job cuts in the state as a result of the acquisition of BankWest by CBA in October 2008.
The job losses, however, have been put down to deteriorating economic conditions, and not the acquisition.
The job losses equate to around eight percent of a 5,100 strong workforce that has expanded from 3,340 during the past four years.
Despite the large cuts, BankWest said that no retail customer facing roles will be lost in stores and Customer Help Centres, nor will any stores close.
BankWest managing director, Jon Sutton, acknowledged that when he assumed the role of Managing Director late last year he believed there would be no job losses in 2009.
However, the rapidly deteriorating economy has meant that BankWest had to make adjustments if it was to remain an efficient and viable business, Sutton said.
The deteriorating national and Western Australian economies and a high cost base mean BankWest has no choice but to cut costs to remain competitive, he added.
FSU national secretary, Leon Carter, said that CBA chief executive Ralph Norris had promised federal Treasurer Wayne Swan and West Australian Premier Colin Barnett that there would be no job cuts in the state as a result of the acquisition of BankWest by CBA in October 2008.
The job losses, however, have been put down to deteriorating economic conditions, and not the acquisition.
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