Job cuts part of simplification, digitisation drive
Human resources roles at the Bank of Queensland are on the chopping block as part of the organisation's digitisation drive, according to reports.
The bank is reportedly cutting up to 600 jobs, which will impact roles in HR, retail operations, as well as marketing, the NewsWire reported, citing The Australian.
According to the report, consultations with affected employees have begun, with the bank attributing the layoffs to its simplification and digitisation drive.
The reports of job cuts came as the Bank of Queensland reported statutory earnings of $151 million and cash earnings after tax of $172 million in half-year results ending in February 29.
Last year, the bank cut 250 jobs which cost the company $25 million in redundancy costs, the Australian Financial Review reported.
The bank, which has yet to comment on its latest round of job cuts, adds to the growing list of employers that are laying off employees in a bid to streamline its operations.
PwC Australia is also cutting 366 roles as part of a major restructure within the organisation. This includes 329 staff who are made redundant and 37 people who saw their retirement fast-tracked.
Across the world, major firms such as Mastercard, Intel, Tesla, Indeed, Citigroup, among others, have bared plans to lay off employees.
