Westpac wields the axe

Westpac wields the axe

Australia's Westpac is set to axe 400 positions and offshore another 150 roles in the latest round of job cuts at the bank.

Westpac has been consulting with staff and union on the cuts which would come from its head office, technology and operations divisions. The bank will also shift 150 jobs to its third-party provider in Bangalore, along with 28 IT management roles in its wholly owned BT Financial Group and Westpac Institutional Bank.

In November last year, Westpac slashed 188 jobs in its IT department as the bank reviewed its sourcing strategy and restructured its business into two distinctive divisional units.

The latest round of cuts come just weeks after Suncorp confirmed plans to move 170 jobs offshire, and ANZ announced that it would shed 131 employees in Victoria.

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