SYDNEY, April 24, 2026, 06:17 AEST
Commonwealth Bank of Australia is set to cut 119 jobs, the Finance Sector Union said on Thursday, in a fresh round of reductions at the country’s biggest bank as it reshapes work around automation and artificial intelligence. The bank did not formally confirm the number, but said some roles were being reduced as programs ended, work was simplified and the mix of skills across the group changed.
The timing matters. CBA unveiled an A$90 million, three-year Future Workforce program in February and, in the same month, reported record first-half cash earnings, a closely watched banking profit measure, showing the cuts are landing alongside heavy technology spending rather than a profit slump. Automation — the use of software or AI to handle tasks once done by staff — is quickly turning into a labour flashpoint across Australian banking.
The union said 43 of the planned cuts would fall on Bankwest and that six roles were tied to automation. Mobile lending managers, who help customers through home-loan applications, were among the jobs affected, it said.
In comments to ABC, CBA said it employs about 49,000 people in Australia and that its workforce grew by roughly 2,500 across the group in FY25. It said there is constant movement through hiring and internal mobility, and that support for affected staff includes a four-week placement program and a career-transition hub.
When it launched the February overhaul, CBA said about 5,000 employees had moved into new roles over the previous year and more than 30,000 had received AI-focused training. Chief Executive Matt Comyn said the bank’s priority was to “transition people into higher-impact roles” even as the “pace of change remains highly uncertain.” CommBank
Comyn struck a broader note last month, saying AI had to lift productivity and living standards, “not valuations,” while acknowledging that the technology was fuelling anxiety about jobs. CommBank
The changes add to a wider reset in Australian banking. NAB proposed cutting about 170 jobs last month while creating new roles overseas, Bendigo and Adelaide Bank this month confirmed layoffs tied to technology partnerships, and ANZ has been working through a much larger cost program that helped lift quarterly profit.
The bank is making the move after a strong half-year result. In February it reported record first-half cash profit of A$5.45 billion, driven by gains in home lending, business lending and deposits, and Michael Haynes, an analyst at Atlas Funds Management, said the standout was “growth in the business bank” alongside stronger mortgage execution. Reuters
But the backdrop has darkened. Westpac said last week that Middle East disruption had forced it to set aside more money for bad loans, while NAB said on Monday its first-half charges for bad loans could double as higher oil prices and slower growth strain borrowers. For CBA, deeper cuts could sharpen union talks, unsettle staff and raise fresh questions over service levels at Bankwest as regulators warn lenders not to ease standards to chase market share.
The union says it wants job security and protections against moving work offshore and AI-driven change written into CBA’s new enterprise agreement, which is being negotiated. CBA says it is strengthening transition support for people affected by change.
