Tech jobs to go in Westpac cuts

Tech jobs to go in Westpac cuts

Summary: Westpac is back in job cuts mode, yesterday consulting with staff and the Finance Sector Union (FSU) about the latest round of redundancies and redeployments that ZDNet Australia can now reveal are set to hit back-office technology operations staff.

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Westpac is back in job cuts mode, yesterday consulting with staff and the Finance Sector Union (FSU) about the latest round of redundancies and redeployments that ZDNet Australia can now reveal are set to hit back-office technology operations staff.

Axed

(That's not an axe image by Kelly Teague,
CC BY-SA 2.0)

Reports emerged late yesterday afternoon that the bank had informed the FSU of impending cuts. The bank told ZDNet Australia that the cuts will be in the magnitude of 400 staff from Westpac's head office, technology and operations division.

Westpac wouldn't confirm which teams are set to lose staff, but did say that it would work as hard as it could to ensure that those headed for the axe would be looked after.

"We will minimise the impact on the people affected by re-skilling or redeploying people, and using natural attrition and reducing contractors," Westpac said in a statement.

The bank said that job losses and redeployments are never an easy process, adding that it's trying to be respectful during this time.

"These are not easy decisions to make and we will treat the people who are affected by these decisions in a respectful and principled way," Westpac said.

Westpac put 28 IT management roles under consideration mid-last month as part of its job review. The staff were situated in the Westpac Group-owned BT Financial Group and Westpac's Institutional Bank.

These job reviews come after a massive restructure last year that saw the creation of a new Group Services division.

Two of the bank's senior technologists left their posts during the restructure, with chief technology officer Sarv Girn departing the organisation and chief information officer Bob McKinnon moving up alongside newly appointed chief operations officer, John Arthur, to run the newly restructured services arm. Clive Whincup stepped into McKinnon's old role in late November last year.

Westpac has told ZDNet Australia that Arthur and Whincup will update the press on the bank's future technology plans in coming months.

Topics: IT Employment, Banking, Outsourcing

Luke Hopewell

About Luke Hopewell

A fresh recruit onto the tech journalism battlefield, Luke Hopewell is eager to see some action. After a tour of duty in the belly of the Telstra beast, he is keen to report big stories on the enterprise beat. Drawing on past experience in radio, print and magazine, he plans to ask all the tough questions you want answered.

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Talkback

5 comments
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  • And just how many consumers/customers will have the guts to take their busienss elsewhere?
    Treknology
    • Where would you take your business? All the banks are all offshoring their IT staff. ANZ is probably the worst at the moment.
      mwil19-a34f7
  • So one of the big 4 banks who didn't have a major IT glitch last year decides to cut back on their IT department. Nice work.

    *clap*




    *clap*




    *clap*
    colonel.mattyman
  • It would be interesting to see how many ZDNet scribes and posters actually use the banks. I turfed them for a credit union years ago and have so far have not had anything but very minor glitches to my online and atm financial activities. Although anyone creating an app to prevent funds withdrawal after a predetermined quantity of cab sav consumption would have my eternal gratitude!
    btone-c5d11
  • I had no idea westpac had such financial problems that they have to slash staff. Quick everyone pull your money out of them quick. I was rather worried when they took over my bank St George that they would screw things up. Guess they have
    deonast