April 25, 2026, 06:05 AEST—Sydney.
Commonwealth Bank of Australia plans to eliminate roughly 119 positions, with 43 of those cuts landing at Bankwest, as its ongoing artificial intelligence drive draws fresh criticism. According to the Finance Sector Union, six of the affected jobs are being axed due to automation.
Timing is crucial here. CBA—Australia’s biggest lender—wants investors to see it can harness technology to boost productivity, and still maintain its service levels. That’s happening while staff, unions, and customers all push back on just how much automation belongs in banking.
Just two months ago, CBA rolled out its A$90 million Future Workforce Program, a three-year push to help employees reskill and pivot as tech transforms jobs across the bank. At the time, CBA flagged that artificial intelligence—software capable of carrying out tasks usually requiring human judgment—would alter roles, but not all at once.
A spokesperson for CBA told the ABC the bank hasn’t issued any official statement about the 119 jobs, but pointed out it employs roughly 49,000 staff across Australia and added some 2,500 positions in the 2025 financial year. “Some roles are shifting, new roles are being created, and some roles are reducing,” the spokesperson said, attributing the changes to completed projects, streamlined processes and evolving skill demands. ABC News
The union isn’t backing down. FSU National Secretary Julia Angrisano warned staff are “peering down the barrel” of fresh layoffs, slamming CBA for “hollowing out its frontline services.” She pointed to roles like mobile lending managers—those who walk customers through home-loan applications—as being on the chopping block. Finance Sector Union
According to the FSU, 72% of CBA staff surveyed flagged job security worries, pointing to offshoring and the rapid expansion of AI as major stress points. Among Bankwest employees, that figure jumps to 85% expressing dissatisfaction over job security—numbers the union is now leveraging as it campaigns for tighter safeguards in a new enterprise agreement, the formal workplace contract with the bank.
CBA is pushing forward with its use of AI for customer protection. On Friday, the bank announced it’s rolled out an “agentic AI” system—software built to recognize patterns and recommend actions—to identify new fraud and scam trends in payments data and to generate suggestions for new detection rules. Fraud analysts still review these rules before they go live. CommBank
James Roberts, executive general manager for fraud and scams at CBA, said the new system spots suspicious activity, judges its seriousness, and suggests fresh controls—all at a pace the old technology couldn’t match. According to the bank, it handles upwards of 20 million daily payments and pushes out over 40,000 warning alerts to customers via its app.
CBA CEO Matt Comyn says the bank aims to give staff clearer direction as their roles shift. Back in February, he pointed to the uneven effects of AI, adding that CBA’s focus is on “transparency and opportunity”—and on shifting people into jobs that demand empathy, critical thinking and judgment. CommBank
Competition’s fierce right now. CBA’s been picking up steam across home loans, deposits, and business lending—Reuters flagged in February that the bank is chipping away at National Australia Bank and ANZ’s business banking turf. So, execution stays front and center. Mortgage and business clients aren’t locked in; if digital upgrades stall support, they can pivot to Westpac, NAB, or ANZ.
Shares changed hands at A$174.49 late Friday, up 0.64%. That puts the bank’s market cap close to A$292 billion, Intelligent Investor data show. Still a dominant force on the Australian exchange, the stock has slipped off its 12-month peak.
The risk is clear: CBA’s drive to cut jobs and ramp up automation could deliver cost savings, but there’s a chance it chips away at the very service approach that once drew customers in. Should staff resistance escalate or automated systems prove more high-maintenance than planned, the bank might not just see reputation take a hit—it could also see productivity gains stall.
CBA still has some room in its earnings. Back in February, Reuters flagged a 6% rise in first-half cash profit to a record A$5.45 billion, even as the net interest margin edged down to 2.04% with rivals stepping up the pressure. Michael Haynes at Atlas Funds Management pointed to business banking gains and a solid mortgage book as key drivers for the result.
