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Westpac is expected to cut thousands of head office and administration jobs in a bid to reduce costs.
According to a report in The Australian, multiple jobs at Westpac have purportedly already been cut, with whispers that more than 100 back-office roles were cut at St George last week.
But while Westpac is promising to ''significantly'' reduce the number of staff working in administration and head-office roles, Westpac’s chief executive Gail Kelly has said she is determined to keep redundancies to a minimum by using normal attrition to bring down overall numbers.
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The company, which employs more than 37,000 people, has an average annual staff turnover of approximately 4,000. However, these jobs are normally refilled.
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