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CBA to cut 150 jobs

Commonwealth Bank of Australia will cut 150 positions among its Australian staff who process home loans, the latest sign of job shedding at the country’s large banks. The bank on Monday informed staff of the job cuts, which will affect employees in Brisbane, saying the positions would no longer be needed.

“Today we advised our people that 150 home loan processing roles in Brisbane will no longer be required,” a bank spokeswoman said.

“This change will impact one Group Operations team in Brisbane and will take effect over the next two to 12 months.

“We understand this is a difficult time for affected people and this decision has not been taken lightly.”

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