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Steven Cross
The Commonwealth Bank has announced it will cut 100 Victorian mortgage service staff despite achieving record profits this year.
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The bank says their dismissal is part of a seven-month restructure of the department and that the changes are being made to improve customer service.
Around 300 people will be moved around, with 100 made redundant by the end of the shift.
Executive secretary of the Finance Sector Union, Darren Martin, told The Adviser that he met with CBA management yesterday to discuss the displaced workers.
“They’re looking to have the transition completed by December,” he said.
“It’s a restructuring of their mortgage services, but they’ve assured me that the jobs will not go offshore.
“The meeting wasn’t a negotiation… it’s a certainty that it will happen.”
In a statement from the bank, CBA's changes to the Melbourne mortgage services operations are a result of improvements in the bank's processes, fluctuating customer demands and the low industry growth in home loan volumes.
"Our priority remains to redeploy the majority of the staff who work in that centre and we have been successful in identifying alternative opportunities for many of our staff.
"We will continue to work our staff over the next six months."
