Western Australian Bank Makes Hundreds Redundant
Wednesday April 1, 2009
Bankwest, Western Australia's largest bank, is cutting 400 jobs this year because of the bleak economic background.
The decision comes after four years of rapid expansion that has seen Perth-based Bankwest increase its workforce from 3340 to 5100.
While the Perth-based Bankwest increased its workforce from 3340 to 5100 and managing director Jon Sutton believed last year there would be no job losses in 2009, the declining economy meant Bankwest had to make decisions to maintain its business.
"The deteriorating national and Western Australian economies and a high cost base mean Bankwest has no choice but to cut costs to remain competitive," he told The West.com.au.
"As an independent entity with its own banking licence and board of directors, Bankwest remains committed to being the leading bank for West Australians and to building our business by providing attractive and competitive products for our customers.
"Lowering our costs will strengthen our ability to continue delivering some of the most competitive home loans, deposit rates and credit cards in Australia for the benefit of almost one million customers."
Mr Sutton said he regrets the decisions the bank based in Perth has to make.
"Decisions of this sort are never easy and are only taken after full investigations of all options available."
Bankwest is a wholly-owned subsidiary of the Commonwealth Bank of Australia and is headquartered in Perth, Australia.
For more information about careers in Perth or Western Australia visit Jobs in Perth.
