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Huge changes at Westpac will see dozens of branches close in biggest ever downsizing of a big Australian bank
- Australia’s oldest deposit bank Westpac is closing 48 branches across Australia
- This will jeopardise the jobs of 165 bank staff including tellers as part of the cull
Australia’s oldest bank Westpac is closing 48 branches across Australia.
Westpac and branches of its subsidiaries St George, Bank SA and Bank of Melbourne are being culled, with 165 jobs in jeopardy.
Until last month, Westpac had 879 branches nationally but the number of outlets with tellers is set to fall as Australia’s second biggest bank focuses on phone and internet banking.
‘To meet this changing customer demand, Westpac has grown its 24/7 phone banking and virtual banking centres,’ a spokeswoman said.
The Finance Sector Union was informed Westpac intended to close 48 branches within its banking group.
Australia’s oldest bank Westpac is closing 48 branches across Australia
The union’s national secretary Julia Angrisano said Westpac had abandoned its customers.
‘Westpac is deserting its customers and its staff by closing branches to shore up its profits,’ she said.
‘This shutdown of so many branches is of major concern to our members and will impact on a large number of staff, banking customers and businesses around Australia.’
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