Commonwealth Bank of Australia announces layoffs - Here's how many will be affected

Commonwealth Bank of Australia, the largest lender in the country, is considering cutting up to 200 jobs. However, no additional details regarding the layoffs were disclosed to Reuters on Wednesday.

As per the anonymous source, the number of layoffs may amount to a "couple of hundred," and ongoing consultations at CBA might result in certain employees being redeployed to other positions, reported Reuters. The source requested to remain unnamed as they were discussing confidential information.

In mid-June, Westpac Banking Corp, a smaller peer of CBA, carried out a layoff affecting 300 jobs in its consumer and business banking segments.

The Australian Financial Review, the first to report on CBA's job cuts, stated that the bank is reducing approximately 251 positions across its information technology, business bank, and retail banking units as part of cost-cutting measures.

A spokesperson for CBA, a global employer with approximately 50,000 personnel, chose not to confirm the news but asserted that there were no reductions to customer-facing employees.

"As part of our focus on business improvement, we regularly review the skills we need and how we are organised. That means from time to time, some roles and work can change or may no longer be required," the spokesperson said, reported Reuters. 

CBA's net profit after tax for the March quarter stood at around A$2.60 billion, an increase from A$2.40 billion recorded a year ago.