Layoffs in spite of profit. most key banks in Australia, such as the Commonwealth Bank of Australia, the Australian and New Zealand Banking Group (ANZ), the National Australia Bank, Westpac or the Bank of Melbourne, recently announced layoff programs: ANZ is about to fire 900 people in the months to come, Commonwealth Bank wants to cut costs by 10 percent and Westpac is thinking about cutting 1,600 jobs. Their aim is to go from a total of 179,000 employees down to 172,000. They are justifying their decision by personnel management which, as a seesaw to a previously serious decrease in staffing (from 166,000 employees in 1996 down to 141,000 in 2002), was supposedly “sloppy” in recent year to face growing loan demand.
layoff programs: ANZ is about to fire 900 people in the months to come, Commonwealth Bank wants to cut costs by 10 percent and Westpac is thinking about cutting 1,600 jobs. Their aim is to go from a total of 179,000 employees down to 172,000. They are justifying their decision by personnel management which, as a seesaw to a previously serious decrease in staffing (from 166,000 employees in 1996 down to 141,000 in 2002), was supposedly “sloppy” in recent year to face growing loan demand.
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