CommBank Cuts Hundreds Jobs Amid India Hiring Push

Australia’s biggest lender, the Commonwealth Bank of Australia (CommBank), has announced a major workforce reshuffle that has shocked many employees. Hundreds of roles are reportedly being cut across different departments in Australia, while at the same time the bank is actively expanding its hiring operations in India. This move has triggered strong reactions from workers and unions who feel uncertain about the future.

According to reports, the bank says the decision is part of an ongoing transformation strategy. It claims the restructure will help improve efficiency and reduce operational costs. However, for many employees in Australia, this explanation has not provided much comfort. Several workers expressed concerns that local talent is being replaced by offshore recruitment in India, where operational costs are comparatively lower.

CommBank already has a strong presence in India, especially in cities like Bengaluru and Hyderabad. Over the past few years, it has gradually increased its technology and back-end support teams there. The recent hiring spree suggests that the bank is doubling down on its India operations, possibly to support digital banking growth and tech innovation.

Union representatives have criticized the move, saying it affects Australian families and creates job insecurity. They argue that profitable companies should prioritize local employment rather than outsourcing roles overseas. Meanwhile, the bank maintains that not all positions are being eliminated and some roles are being restructured or redeployed internally.

The financial sector in Australia has been facing rapid digital transformation, with automation and AI reshaping traditional banking roles. Experts say such workforce shifts are becoming more common as companies try to stay competitive globally.

While the bank insists the changes are necessary for long-term sustainability, the sudden layoffs have left many employees worried and disappointed. It remains to be seen how this decision will impact CommBank’s public image and employee morale in the coming months.