PB Tabloid: Commonwealth: 600 jobs axed
#1
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Commonwealth: 600 jobs axed
This will be of no interest to most on here but any one hoping to flee the bank cuts in the UK can dream on.
Yet another case of Wait Awhile Australia , UK today here next year as far job losses go .
AUSTRALIA'S Commonwealth Bank announced plans today to axe another 600 jobs in its retail banking services in addition to 1,600 redundancies already in the pipeline.
It's the result of a continuing review or assessment that we make of the branch network, of efficiencies and customer service levels, workloads and what have you," a spokesman said. "As a result, 600 positions have been made redundant."
The bank is undertaking a McKinsey-led review of its operations and is looking to cut 500 million dollars (325 million US) in costs and lead a "cultural transformation" of the business.
http://www.heraldsun.news.com.au/com...5E1702,00.html
Yet another case of Wait Awhile Australia , UK today here next year as far job losses go .
AUSTRALIA'S Commonwealth Bank announced plans today to axe another 600 jobs in its retail banking services in addition to 1,600 redundancies already in the pipeline.
It's the result of a continuing review or assessment that we make of the branch network, of efficiencies and customer service levels, workloads and what have you," a spokesman said. "As a result, 600 positions have been made redundant."
The bank is undertaking a McKinsey-led review of its operations and is looking to cut 500 million dollars (325 million US) in costs and lead a "cultural transformation" of the business.
http://www.heraldsun.news.com.au/com...5E1702,00.html
#2
Re: Commonwealth: 600 jobs axed
Could this finally be the banking sector facing up to the future? Will the next step be free banking or just higher profits?
#3
Re: Commonwealth: 600 jobs axed
Originally posted by pommie bastard
This will be of no interest to most on here but any one hoping to flee the bank cuts in the UK can dream on.
Yet another case of Wait Awhile Australia , UK today here next year as far job losses go .
This will be of no interest to most on here but any one hoping to flee the bank cuts in the UK can dream on.
Yet another case of Wait Awhile Australia , UK today here next year as far job losses go .
Nina
#4
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Re: Commonwealth: 600 jobs axed
Originally posted by Dinky
Could this finally be the banking sector facing up to the future? Will the next step be free banking or just higher profits?
Could this finally be the banking sector facing up to the future? Will the next step be free banking or just higher profits?
#5
Re: Commonwealth: 600 jobs axed
Originally posted by pommie bastard
In Australia profits are the main aim service comes last , everything here has a Admin charge added on top of the price or service.
In Australia profits are the main aim service comes last , everything here has a Admin charge added on top of the price or service.
Unlike the UK where the banks do everything for FREE?
Perhapse thats why 45,000 jobs have gone in the Financial Services Industry over the last 2 years.
Companies want profit. its a wordwide trend.
PC
#6
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Re: Commonwealth: 600 jobs axed
Originally posted by porkchop
Unlike the UK where the banks do everything for FREE?
Perhapse thats why 45,000 jobs have gone in the Financial Services Industry over the last 2 years.
Companies want profit. its a wordwide trend.
PC
Unlike the UK where the banks do everything for FREE?
Perhapse thats why 45,000 jobs have gone in the Financial Services Industry over the last 2 years.
Companies want profit. its a wordwide trend.
PC
Australia is closing branches down at a higher rate than the UK and it has nowhere the same amount of Financial Services as Great Britain which is only second to the USA.
#7
Re: Commonwealth: 600 jobs axed
Originally posted by pommie bastard
Banks in the UK do not charge anywhere like the Aussie banks dream on , the bastards make admin charges for every service .
Australia is closing branches down at a higher rate than the UK and it has nowhere the same amount of Financial Services as Great Britain which is only second to the USA.
Banks in the UK do not charge anywhere like the Aussie banks dream on , the bastards make admin charges for every service .
Australia is closing branches down at a higher rate than the UK and it has nowhere the same amount of Financial Services as Great Britain which is only second to the USA.
Uk banks may not charge like the Aus banks but they also dont give interest like the Aus banks. You would be lucky to get .5% on a current account in the UK, and could get 4% in Aus.
If you have your mortgage or hold an amount of money in an Aus bank they generaly waive admin charges.
Must disagree about branch closures too. A vast number of banks have closed in the Uk with many more planned due to bank mergers and takeovers. Many of the financial services companies operating in the Uk are backed by Australian expertise.
The Uk are looking at a model bank, unmaned, Cash and deposit machines. Then most people can manage without a visit to their bank these days.
Cost cutting is a worldwide exercise to maintain profits in difficult times.
PC
#8
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Re: Commonwealth: 600 jobs axed
Originally posted by porkchop
.
If you have your mortgage or hold an amount of money in an Aus bank they generaly waive admin charges.
PC
.
If you have your mortgage or hold an amount of money in an Aus bank they generaly waive admin charges.
PC
#9
Re: Commonwealth: 600 jobs axed
Originally posted by pommie bastard
You are a dreamer forget the fact interest rates in Australia are always higher than the UK you will get charged for every service and some cases twice for the same thing.
You are a dreamer forget the fact interest rates in Australia are always higher than the UK you will get charged for every service and some cases twice for the same thing.
So you pedle more lies to save face.
Just makes you look a bigger twat than you are already.
In recent times Australia has had higher interest rates than the UK, but this is not ALWAYS the case.
I have my mortgage with the Bank and therefore pay no charges for day to day transactions. Many banks here adopt this stance.
PC
#10
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Re: Commonwealth: 600 jobs axed
Originally posted by porkchop
You can not bring yourself to agree with anything I post can you?
So you pedle more lies to save face.
Just makes you look a bigger twat than you are already.
In recent times Australia has had higher interest rates than the UK, but this is not ALWAYS the case.
I have my mortgage with the Bank and therefore pay no charges for day to day transactions. Many banks here adopt this stance.
PC
You can not bring yourself to agree with anything I post can you?
So you pedle more lies to save face.
Just makes you look a bigger twat than you are already.
In recent times Australia has had higher interest rates than the UK, but this is not ALWAYS the case.
I have my mortgage with the Bank and therefore pay no charges for day to day transactions. Many banks here adopt this stance.
PC
#11
Re: Commonwealth: 600 jobs axed
Originally posted by pommie bastard
Fine as long as I can remember the rates have been higher as they are now prove different , all mortgages have an accounting fee in Australia , your turn?
Fine as long as I can remember the rates have been higher as they are now prove different , all mortgages have an accounting fee in Australia , your turn?
As recent as January 2001 the Uk rate was .25% higher than the rate in Australia.
compare on www.moneyworld.co.uk and www.rba.gov.au
I pay no accounting fee on my mortgage. There is an accounting fee only for late payment.
For those that want proper advise on bank account charges I sugest that you check with individual banks. But dont use the same bank as PB as he is obviously getting ripped off.
Mr Gullible as usual.
PC
#12
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Re: Commonwealth: 600 jobs axed
Originally posted by porkchop
As recent as January 2001 the Uk rate was .25% higher than the rate in Australia.
compare on www.moneyworld.co.uk
I pay no accounting fee on my mortgage. There is an accounting fee only for late payment.
For those that want proper advise on bank account charges I sugest that you check with individual banks. But dont use the same bank as PB as he is obviously getting ripped off.
Mr Gullible as usual.
PC
As recent as January 2001 the Uk rate was .25% higher than the rate in Australia.
compare on www.moneyworld.co.uk
I pay no accounting fee on my mortgage. There is an accounting fee only for late payment.
For those that want proper advise on bank account charges I sugest that you check with individual banks. But dont use the same bank as PB as he is obviously getting ripped off.
Mr Gullible as usual.
PC
#13
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Joined: Jan 2003
Location: Brisbane
Posts: 1,576
Re: Commonwealth: 600 jobs axed
Originally posted by pommie bastard
Mortgage rate old boy try again , yes I like all others have been shafted by the banks here.
Mortgage rate old boy try again , yes I like all others have been shafted by the banks here.
#14
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Re: Commonwealth: 600 jobs axed
Originally posted by Kiwipaul
Tis not difficult to shaft PB he seems to make it his lifes ambition to see how many people can shaft him. :scared:
Tis not difficult to shaft PB he seems to make it his lifes ambition to see how many people can shaft him. :scared:
This near do well shouts loud (Porkie) but says bugger all.
Last edited by pommie bastard; Aug 3rd 2003 at 7:09 pm.
#15
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Re: Commonwealth: 600 jobs axed
Originally posted by pommie bastard
You should try it sometime a little Kiwipaul might give you a life.
You should try it sometime a little Kiwipaul might give you a life.