Tldr: Westpac has cut over 100 jobs in its premier banking division and other areas, adding to the 300 positions already eliminated from its head office. These reductions are part of an effort to simplify operations, improve accountability, and decrease costs. The premier banking division was targeted due to its customers' preference for digital services. Westpac aims to decrease its workforce by 20% from 2020 levels by 2024 and has ended contracts with numerous contractors as part of this cost-cutting initiative.
https://www.afr.com/companies/financial-services/westpac-axes-100-more-jobs-inside-bank-20230616-p5dh8d