Westpac Set to Cut Jobs in Asia
The job cuts will most likely take place in Singapore where Westpac services businesses and individuals with links to Australia. However this will not impact Westpac’s trade finance operations in Asia. Westpac and the other rivals are cutting costs as earnings growth is lesser.
Westpac is present in China, Hong Kong and India however no mention is made of these locations about job losses.
News Source: Australian Financial Review
Westpac has 5 customer facing divisions serving around 13 million customers. The operating structure aligns Westpac’s business with key customer segments. Under this structure, the Group retains a unique portfolio of brands including Westpac, St.George, Bank of Melbourne, BankSA and RAMS. These brands operate under the Consumer Bank and Business Bank divisions.
- Origin: Sydney, Australia
- Assets: A$812.1 billion
- Revenue: A$21.6 billion
- Employees: 32,620
Official Website: https://www.westpac.com.au
News & Media: Press Release
Updated on 8th August 2016