In Short:
– Commonwealth Bank faces backlash for cutting 90 jobs, citing AI and offshore labour.
– The FSU demands retraining for affected workers instead of job replacements.

Commonwealth Bank has faced criticism for eliminating 90 frontline jobs, citing the integration of AI and offshore labour.

According to the Australian Finance Sector Union (FSU), this move replaces skilled Australian workers with automated systems. The bank argues that AI will streamline customer assistance.

The FSU has stated that affected employees should receive retraining rather than being replaced for cost-saving measures.

FSU National Secretary Julia Angrisano condemned the decision, emphasising the need for collaboration between the bank and workers when introducing new technology. She highlighted the expectation of support for employees adapting to advancements like AI.

Recent discussions between the FSU and Commonwealth Bank reflect ongoing tensions regarding job cuts linked to technology and offshoring. Despite the backlash, a bank spokesperson noted the hiring of over 9,000 employees in the 2025 financial year while maintaining 450 open roles in retail banking.

Employment Impacts

Concerns persist about AI’s dual role in job creation and loss, with estimates predicting 83 million jobs could vanish over the next five years.