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Westpac to close 24 branches and axe 103 jobs

Eliza Bavin
·Personal Finance Editor
Updated ·2-min read
Westpac logo and name on exterior of a building
Westpac is set to close 24 more branches. (Source: Getty)

Westpac has confirmed it will shutter a further 24 branches and axe 103 workers, the Finance Sector Unit (FSU) said.

Westpac Banking Group includes St George, Bank of Melbourne and Bank SA.

The FSU said the closures are just the latest example of what has now become a “monthly attack” on its branch network.

FSU National Secretary Julia Angrisano said the savage round of cost cutting would affect tens of thousands of local Westpac customers who will be forced to travel even further to access banking services at a branch.

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“This is no longer cutting the fat from Westpac, this latest carving up of Westpac’s branches is slicing right into the core of the bank with staff morale at rock bottom as they wait for the axe to fall on what’s left of the branch network,” Angrisano said.

“Last month Westpac cut another 24 branches and a call centre in Perth.

“In July, it announced 24 branch closures, all in the name of underpinning profits.”

Angrisano said it is clear that the major bank has “no regard” for the community across Australia, having shut down 225 branches since January 2021.

Angrisano accused Westpac CEO Peter King of having bragged in May about slicing more than 4,000 jobs.

“That’s what King thinks of his staff. Nothing more than ‘headcount’ to be axed when it suits him,” Angrisano said.

“But what our members see is the casualties of King’s carnage with careers ruined by redundancy in areas where they will have trouble finding a new job.

“And when it comes to pay at Westpac, the bank is mean and stingy, refusing to offer staff reasonable pay rises as inflation eats away at their real wages and cost of living spirals out of control.”

Branches set to be closed

Westpac branches closing:

  • NSW: Vincentia, Yass

  • QLD: Lake St Cairns, Loganholme, Creek and Elizabeth St Brisbane, Ayr.

  • VIC: Moe, Ferntree Gully, Boronia, Torquay

  • WA: Bridgetown, Collie, Tom Price, Wongan Hills

St George branches closing:

  • NSW: Camden, Wynyard

Bank of Melbourne branches closing:

  • Kew, Northcote, 100 Collins St, Warrnambool, Mildura

Bank SA branches closing:

  • Yankalilla, Mannum, McLaren Vale

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