Bendigo Bank axes 158 Aussie jobs in ‘devastating’ cull as banking sector bloodbath continues: ‘Loyal workers thrown on scrapheap’
- Bendigo Bank joins NAB, ANZ, and CBA in mass redundancies, slashing 158 jobs in technology and mortgage support
- Thousands of bank workers across Australia face unemployment as banks prioritise ‘innovation’ and ‘productivity’ over people
- Finance Sector Union slams banks for leaving workers in the ‘scrapheap’ and warns of a ‘tidal wave of cuts’ hitting the sector
In a **devastating** blow to the Australian workforce, Bendigo Bank has announced it is axing 158 jobs in its technology and mortgage support departments, joining NAB, ANZ, and CBA in a massive banking sector bloodbath.
The embattled bank has come under fire for its “five-year strategy” which appears to be nothing more than a “roadmap for job destruction”, according to Finance Sector Union national secretary Julia Angrisano.
“Loyal workers are being thrown on the scrapheap while executives pocket bonuses,” she said in a scathing critique of the banking industry. “Customers, once again, pay the price when experienced technology and mortgage help staff are lost, with longer wait times and reduced services, particularly at a time when lending will be more accessible to first home buyers.”
The news comes just days after NAB announced it would be cutting over 400 jobs, and ANZ revealed plans to slash up to 4,500 roles. Bank of Queensland (BOQ) has also confirmed it is set to axe 200 roles, many of which will be offshored.
“Bendigo and BOQ like to market themselves as different, but they’re following the same playbook as the big banks,” Angrisano said. “Workers are being blindsided, jobs are being offshored and customers are left with poor service. They’re no different to ANZ, Commonwealth Bank or NAB.”
Despite posting a profit of over half a billion dollars in the last financial year, Bendigo Bank has claimed the job cuts are necessary to “improve productivity and deliver better customer experiences”.
The Finance Sector Union has slammed the banks for their “destructive” approach to restructuring, warning that the “tidal wave of cuts” hitting the sector will have a huge impact on workers and customers alike.