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Westpac to cut 1,500 jobs, simplify operations: report

Westpac to cut 1,500 jobs, simplify operations: report

By Kim Browne

Culture

The company says it regularly adjusts its workforce based on shifting investment priorities

Published Wed, May 21, 2025 · 07:44 AM

Westpac Banking Corp (Westpac) is planning to cut more than 1,500 jobs to meet cost reduction targets and simplify operations, the Australian Financial Review (AFR) reported on Tuesday (May 20).

The job cuts are part of Westpac’s Unite programme, launched in 2023 to overhaul and simplify the company’s technology systems.

The programme aims to cut the number of core platforms, modernise infrastructure, reduce long-term operational and maintenance costs.

Westpac employed 35,240 people globally, as at Sep 30, 2024, according to its 2024 annual report.

The company, in an emailed response to Reuters, said it regularly adjusts its workforce based on shifting investment priorities. It did not confirm the number of jobs being cut.

“While we continue to invest in extra bankers and customer-facing roles, other programmes and initiatives may need fewer resources,” Westpac said. REUTERS

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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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