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Westpac is expected to cut thousands of head office and administration jobs in a bid to reduce costs.
According to a report in The Australian, multiple jobs at Westpac have purportedly already been cut, with whispers that more than 100 back-office roles were cut at St George last week.
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But while Westpac is promising to ''significantly'' reduce the number of staff working in administration and head-office roles, Westpac’s chief executive Gail Kelly has said she is determined to keep redundancies to a minimum by using normal attrition to bring down overall numbers.
The company, which employs more than 37,000 people, has an average annual staff turnover of approximately 4,000. However, these jobs are normally refilled.
