By Millie Muroi
Publication Date: 2026-02-24 06:00:00
Commonwealth Bank is cutting 300 jobs across its retail, institutional and human resources departments in the latest round of layoffs by a major Australian bank, with technology staff bearing the brunt of the cuts.
The job cuts come as the banking giant also rolls out a program designed to prepare workers for accelerating AI-driven change in the workplace, CBA boss Matt Comyn warns, over the next five years.
On Tuesday, the Finance Sector Union described the 300 cuts following the bank’s recent $5.4 billion profit as “totally unacceptable” and called on the bank to use its newly announced program to help workers affected by the job cuts find other positions within the banking group.
