AIReutersabout 2 hours ago
Westpac denies AI-driven job cuts
2 min read
Westpac spokespersons state 140 recent role eliminations stem from organizational restructuring rather than AI adoption. This contrasts with rival National Australia Bank's plan to cut 2,500 jobs due to AI rollout. The Finance Sector Union notes over 10,000 banking jobs lost recently as Australia's jobless rate hits 4.7%. Westpac shares rose 0.4% to A$35.68 following the clarification.
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