Westpac's latest job cuts not AI-driven, spokesperson says
Westpac is set to eliminate approximately 140 positions as part of a restructuring effort. The Finance Sector Union highlights that the banking industry has seen over 10,000 job losses in recent years. A spokesperson for Westpac clarified that these cuts are not linked to advancements in AI technologies. This follows similar job reduction announcements from National Australia Bank, as the unemployment rate in Australia rises and the labor market softens.
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