Westpac Job Cuts After Commonwealth Bank Layoffs: As news of Westpac job cuts after Commonwealth Bank layoffs continues to spread across Australia, many employees are understandably anxious about their careers. In 2025, Westpac Banking Corporation, one of the country’s “Big Four” banks, announced plans to cut approximately 1,500 jobs, equating to about 5% of its total workforce. This follows a similar move by the Commonwealth Bank of Australia (CBA), which laid off nearly 800 employees over the last year, despite reporting strong profits.
The banking industry is undergoing a dramatic transformation, driven by technology, automation, and shifting customer behaviors. This article is designed to help you fully understand the scope of these layoffs, what they mean for various roles, and the steps you can take to stay resilient. We’ll walk you through key developments, provide expert advice, and equip you with practical tools to prepare for the road ahead.
Westpac Job Cuts After Commonwealth Bank Layoffs
| Topic | Details |
|---|---|
| Company Affected | Westpac Banking Corporation |
| Job Cuts Reported | Approx. 1,500 positions (5% of workforce) |
| Recent Layoffs at CBA | Nearly 800 job cuts in past 12 months |
| Main Reasons | Cost-cutting, digital transformation, offshoring |
| Regions Affected | South Australia, New South Wales, plus international offshoring |
| Actionable Advice | Upskill, communicate with HR, monitor internal updates |
| Official Website | Westpac |
The wave of Westpac job cuts after Commonwealth Bank layoffs signals a major turning point in the Australian banking industry. It’s a move from traditional models toward a digitally driven future, where automation and AI are central to operational strategy.
For professionals, this period of change can be an opportunity. By focusing on future-ready skills, staying engaged with internal developments, and being proactive about career development, you can not only protect your current role but also set yourself up for success in the evolving landscape. This is the moment to take control of your professional growth. Whether you’re upskilling, networking internally, or considering your next move, staying informed and adaptable is the best way to thrive.
Why Are Job Cuts Happening at Westpac and CBA?
The layoffs at Westpac and CBA aren’t isolated events. They are part of a global shift reshaping the banking sector. The transition to digital-first services, the rise of automated financial technology, and the need to stay competitive in a fast-paced market are pushing banks to streamline their operations.
Customer behavior has changed dramatically. Most people now prefer mobile apps and online platforms to manage their finances, reducing the need for traditional bank branches. To align with this trend, Westpac introduced its “Unite” strategy to simplify and modernize its operations, which involves cost reductions, offshoring, and digital reinvestment.
In early 2025, Westpac confirmed that 190 roles across South Australia and New South Wales were being offshored to the Philippines, citing operational efficiency. The Finance Sector Union has voiced concerns over these changes, warning of the long-term risks to both workers and customer data (The Australian).
Similarly, CBA is reallocating resources, laying off staff in some areas while hiring in others. While 800 jobs were eliminated, the bank claims to have hired nearly 3,000 people in new roles since January 2024, mostly focused on digital services and future-oriented projects. The shift reflects a growing need for employees who can manage digital tools, understand analytics, and help shape customer experiences through technology.
These shifts are not only about reducing headcount; they also reflect a broader trend in banking: transformation for agility and innovation. As global competition increases and regulatory pressures mount, banks need to be faster, smarter, and more efficient.
Who Is Most at Risk?
Not every employee is equally vulnerable. The impact of job cuts varies significantly based on your department, location, and skill set.
High-Risk Departments:
- Branch Banking and Teller Roles: As branches close or reduce hours, these roles are becoming redundant.
- Manual Administration and Processing: Tasks that can be automated are high-priority targets for cuts.
- Call Centre and IT Support Staff: These roles are often offshored to cut costs.
- Legacy Tech Teams: Staff working with outdated technologies are being replaced with cloud-based and agile roles.
Departments With Growth Potential:
- Digital Banking Teams: Employees who design and maintain banking apps and platforms.
- Cybersecurity and Compliance: Essential for customer trust and regulatory obligations.
- Artificial Intelligence and Data Analytics: Vital for innovation and improving customer service.
- Cloud and Infrastructure Specialists: Key to supporting scalable, efficient banking services.
Real-World Insight:
Take the example of Emily, a customer service representative from New South Wales. She was recently informed that her job was being moved to the Philippines. However, her colleague James, who transitioned to the bank’s fintech innovation team, received a promotion after completing internal training.
The lesson? Being adaptable and staying ahead of the curve can make all the difference.
What Can You Do to Protect Your Job?
Even though you can’t stop company-wide changes, you can make yourself indispensable. Here’s how to stay ahead of the curve:
1. Stay Informed and Engaged
- Join internal webinars, read company memos, and participate in town hall meetings.
- Build a network inside your organization so you hear updates early.
- Monitor industry news via sites like AFR and Business Insider.
2. Upskill Strategically
Identify skills that are in high demand and start building them. Consider:
- Data Skills: Learn Excel, SQL, or even beginner-level Python.
- Customer Tech Tools: Get familiar with Salesforce, HubSpot, or Zoho CRM.
- Online Courses: Use LinkedIn Learning, Coursera, or Udemy to access beginner and advanced topics in technology, finance, and management.
- Certifications: Look into industry-recognized certifications in agile, data analytics, or digital transformation.
3. Talk to HR or Your Manager
Initiate a conversation about:
- Training programs available within the company.
- Internal job boards and transfer opportunities.
- Performance feedback and skill development.
- Career mapping: Ask where your role fits into the company’s future plans.
4. Polish Your Resume and Online Presence
Make sure your resume and LinkedIn profile are current and reflect your most valuable skills. Use keywords like “digital transformation,” “data-driven decision-making,” and “agile methodology” to align with industry trends. Ask peers or mentors for feedback.
5. Consider External Options
Even if you’re not planning to leave, keep an eye on the job market. Tech, insurance, and fintech companies often seek professionals with banking backgrounds. Update job alerts and explore roles on sites like Seek, Indeed, and LinkedIn Jobs.
What Are Banks Doing With the Savings?
The decision to reduce staff is driven not only by cost-cutting but also by the need to remain competitive and innovative.
Here’s where the savings are going:
- Technology Investments: Westpac is launching more advanced mobile platforms and digital banking tools.
- Artificial Intelligence: The bank is working on AI models that can handle tasks like loan approvals, fraud detection, and 24/7 customer service.
- Digital Customer Experiences: Both Westpac and CBA are focusing on improving digital self-service capabilities to meet evolving customer expectations.
- Cloud Adoption: Significant funds are being redirected toward cloud infrastructure to enable more scalable and secure operations.
According to McKinsey & Company, banks that invest heavily in technology tend to outperform peers by up to 15% in revenue growth (source). This highlights the shift in value creation from traditional branch services to digital ecosystems.
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FAQs About Westpac Job Cuts After Commonwealth Bank Layoffs
Will I receive severance pay if I’m laid off?
Yes. Westpac and CBA typically provide redundancy packages, which may include:
- Notice pay
- Accrued annual and long service leave
- Career transition support or outplacement services
- Emotional well-being resources or counseling
Is it legal for companies to offshore jobs?
It is legal under Australian law, though subject to regulatory standards. However, data privacy and ethical considerations remain hot topics. The Finance Sector Union continues to advocate for more transparency and safeguards.
Can I apply for open roles in other departments?
Absolutely. Westpac and CBA both encourage internal mobility. Keep checking the internal career portal and be proactive in expressing your interest to managers.
How do I find out if my role is under review?
Speak with your manager or HR. Watch for restructuring announcements, changes in reporting structures, or departmental strategy sessions. Company intranets often list impacted roles during larger restructuring efforts.
What other industries are hiring in 2025?
There is demand in:
- Healthcare: Especially for admin, IT, and support roles.
- Education Technology: Online learning platforms are booming.
- Renewable Energy and Infrastructure: Emerging sectors with strong government support.
- Cybersecurity: With rising threats, demand for security roles is at an all-time high.
