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Westpac's Bank of Melbourne is set to close raft of branches in two cities as the nation transitions towards a 'cashless society' - here's what you need to know

One of Australia's biggest banks has been accused of putting profits before customers after its decision to close branches in two major cities.

South-morang , Victoria , Australia , Philippines , Melbourne , India , Broadmeadows , New-south-wales , Werribee-plaza , Julia-angrisano , Ross-miller , Westpac

Westpac cuts 132 jobs across divisions, says trade union

From the bank's risk division, 62 roles are being reduced at a time when the country faces an "unprecedented level" of scams and cybersecurity threats, the Finance Sector Union (FSU) said in a statement. The job cuts across the risk and operations divisions come on top of the 20 layoffs in January at its sales support unit in the Mortgage Services division, which were outsourced to Concentrix Corp, FSU said. "From time to time, we change the way we operate and this can impact some roles and responsibilities," Westpac said in an email response to Reuters.

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WBC share price: Westpac cuts 132 jobs, including 70 outsourced to contractors in India and Philippines: Genpact, Tata Consulting Services and Concentrix

Westpac will shift 70 operational roles to three offshore contractors: Genpact, Tata Consulting Services and Concentrix. The union says the move will sap morale.

Philippines , Australia , Bangalore , Karnataka , India , Australian , Julia-angrisano , Nick-isaacs , Westpac-institutional-bank , Westpac , Acuity-knowledge-partners , Secretary-julia-angrisano

One of Australia's largest banks cuts more than 130 jobs and offshores them to India and the Philippines

One of Australia's biggest banks has cut another 132 jobs across various sections, with some of these roles being offshored to companies in India and the Philippines.

Australia , Philippines , New-delhi , Delhi , India , Australian , Julia-angrisano , Westpac , Indira-gandhi-international-airport , Sector-union , Concentrix-corp , Westpac-group

Commonwealth Bank slapped with $10.3m fine for wage theft

Commonwealth Bank was fined $10.3 million by the Federal Court for its involvement in wage theft which led to $16 million in underpayments to over 7400 workers.

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Right to disconnect: How Greens senator Barbara Pocock got independent David Pocock on board

Senator Barbara Pocock retreated to her parliamentary office in Canberra for a critical meeting with fellow kingmaker David Pocock last week. The mood was tense.

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Right to disconnect: How Greens senator Barbara Pocock got independent David Pocock on board

Senator Barbara Pocock retreated to her parliamentary office in Canberra for a critical meeting with fellow kingmaker David Pocock last week. The mood was tense.

Canada , Zurich , Züsz , Switzerland , France , Australia , Canberra , Australian-capital-territory , Spain , Australian , French , Barbara-pocock

Right to disconnect: How Greens senator Barbara Pocock got independent David Pocock on board

Senator Barbara Pocock retreated to her parliamentary office in Canberra for a critical meeting with fellow kingmaker David Pocock last week. The mood was tense.

France , Spain , Zurich , Züsz , Switzerland , Australia , Canada , Canberra , Australian-capital-territory , French , Australian , Julia-angrisano

Right to disconnect: How Greens senator Barbara Pocock got independent David Pocock on board

Senator Barbara Pocock retreated to her parliamentary office in Canberra for a critical meeting with fellow kingmaker David Pocock last week. The mood was tense.

Canada , Canberra , Australian-capital-territory , Australia , Zurich , Züsz , Switzerland , Spain , France , Australian , French , Julia-angrisano

CBA wage theft: Commonwealth Bank hit with $10.3 million fine in precedent-setting case

The ruling is the first time a major corporation has faced fines for serious breaches of underpayment laws.

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