Westpac to close down 24 branches with 103 jobs lost

Westpac is set to axe more than 100 jobs as it closes 24 branches, amid accusations from the Finance Sector Union calling the bank “mean and stingy”.

Westpac will shut down 24 branches across the country which will see 103 jobs axed, with the union claiming the move has “become a monthly attack on its branch network around Australia”.

Last month, it was revealed 37 branches at Westpac, Commonwealth Bank and NAB would be shuttered across the nation, with the Finance Sector Union (FSU) describing the closures at the time as reaching “crisis point”.

FSU national secretary Julia Angrisano said the latest savage round of cost-cutting would affect tens of thousands of local Westpac retail and business customers, who will now be forced to travel even further to access banking services at a branch.

“This is no longer cutting the fat from Westpac. This latest carving up of Westpac’s branches is slicing right into the core of the bank with staff morale at rock bottom as they wait for the axe to fall on what’s left of the branch network,” she said.

Julia Angrisano is national secretary of the Finance Sector Union. Picture: Hollie Adams/The Australian

Last month Westpac cut another 24 branches and a call centre in Perth, she added.

“In July, it announced 24 branch closures, all in the name of underpinning profits,” she claimed.

“It is clear Westpac has no regard for the community across Australia after shutting down 225 branches since January 2021.”

Branches affected by the closures include Westpac sites located in Vincentia and Yass in NSW and four locations in Queensland made up of Lake St Cairns, Loganholme, Creek and Elizabeth St Brisbane, and Ayr.

In Victoria, Westpac branches that have been given the chop in the latest round include Moe, Ferntree Gully, Boronia and Torquay, while in Western Australia the branches to close will be in Bridgetown, Collie, Tom Price and Wongan Hills.

The branch closures are happening across Australia. Picture: NCA NewsWire/Damian Shaw

Others set to close down as part of the Westpac Group include St George’s Bank’s branches in Wynyard and Camden, as well as Bank of Melbourne sites in Kew, Northcote, 100 Collins St, Warrnambool and Mildura.

Also impacted are three Bank SA branches located in Yankalilla, Mannum and McLaren Vale.

The Commonwealth Bank will also close a further three branches in Tenterfield and Junee in NSW and Reynella in SA.

St George branches in Sydney will be impacted. Picture: NCA NewsWire/Gaye Gerard

Ms Angrisano said Westpac CEO Peter King had trumpeted to the markets in May that he had sliced more than 4000 in “headcount” from the bank over the previous year.

“That’s what King thinks of his staff. Nothing more than headcount to be axed when it suits him,” she said.

“But what our members see is the casualties of King’s carnage with careers ruined by redundancy in areas where they will have trouble finding a new job.

“And when it comes to pay at Westpac, the bank is mean and stingy, refusing to offer staff reasonable pay rises as inflation eats away at their real wages and cost of living spirals out of control.”

The FSU was critical of Westpac CEO Peter King. Picture: John Feder

But a Westpac Group spokesperson told news.com.au during the last round of cuts that with more than five million digitally active customers, the company was investing in services to complement how their customers choose to bank.

“Declining customer use of branches means that in some instances, we may take a difficult decision to leave a branch location. In these instances, we continue to support our customers with access to banking services via Bank@Post, telephone, mobile and virtual banking,” they said.

“We take steps to ensure customers are notified in advance about the changes and are directly connected with the services they need to continue to do their banking. For those who are new to digital banking, or may require more assistance with the changes, we provide dedicated support and education to make the transition easier.”

Five million customers are digitally active these days. Picture: NCA NewsWire/Dylan Coker

They added many customers can continue to access the same cash services locally via Australia Post or call to talk to one of their bankers.

The spokesperson added new opportunities would be presented to employees as the bank grows its phone, digital and virtual offerings.

“We have a robust process in place to assist employees to find new opportunities within Westpac Group, meaning the majority of employees affected secure a new role and continue their career in the group,” they said.