Yahoo Finance Commonwealth Bank shuts more branches, slashes staff
CBA has closed more physical branches and sacked 19 staff.
The Commonwealth Bank of Australia (CBA) has been called out for closing another three branches and sacking 19 staff.
The Finance Sector Union (FSU) slammed the major bank for announcing the closures despite delivering massive profits.
“The Commonwealth Bank’s massive profits have not prevented the bank from closing another three branches, further disadvantaging older customers, and sacking another 19 staff,” FSU said.
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FSU said CBA confirmed it would be closing branches in Guildford (NSW), Wanneroo (WA) and Mountain Gate (Vic).
FSU national secretary Julia Angrisano said CBA should extend its commitment to hold a moratorium on all branch closures, not just in regional areas, while the senate investigates regional branch closures.
“The CBA should stop all branch closures across the country and wait until the findings of the senate inquiry are delivered before it even thinks about shutting more branches,” Angrisano said.
“The CBA is the most profitable bank in Australia and can afford to put customers, communities and staff first. Unfortunately, CBA only thinks about its super profits, at the expense of everyone.”
Angrisano said CBA staff were dealing with increasing workloads in all branches, departments and call centres.
“This is not sustainable and the FSU will be telling the bank how unhappy staff are in the current round of enterprise agreement negotiations,” Angrisano said.
“We know 53 per cent of CBA staff are thinking of moving on and finding better-paying jobs. If the CBA is to retain experienced staff, it needs to pay them well and start treating employees as if it values them.
“The continued closure of branches is creating a real sense of job insecurity amongst CBA workers, and is bad for morale.”
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