spot_img

Westpac Bank Outlines Restructuring Plans

Share post:

Australian banking and financial services company Westpac is planning to restructure its organization, which will help bring its services closer to people and reduce costs.

To implement the plans, the company will reduce its corporate functions by around 20% and create a “small, more focussed head office.”

This includes merging the Tech, Finance and HR support divisions into a newly created division called customer services and technology. This division will be led by Scott Collary, the company’s current COO.

Another newly created division (corporate services) will combine the combined services of real estate, procurement, HR services, financial services, corporate affairs, and community and sustainability. This division will be led by Carolyn McCann, the company’s current customer and corporate relations group executive.

According to the bank, the changes already implemented have led to the reduction of more than 1,100 employees, including contractors and staff.

For more information, read the original story in ZDNet.

spot_img

SUBSCRIBE NOW

Related articles

Nearly 70% of IT leaders to increase outsourcing

According to research performed by software development business JetRockets, almost 70% of IT executives are increasing their demand...

Employers increasing standards for employee performance reviews to cut costs

Many large firms, like Google, Salesforce, and Goldman Sachs, are instituting tighter employee performance review criteria. Their goal...

Broadcom-VMware merger may be derailed by British antitrust investigation 

Timothy LaComb, a San Diego-based attorney who specializes in antitrust, unfair competition, and complex business cases, believes that...

U.K. launches in-depth investigation into Broadcom’s $61bn VMware acquisition

The U.K. Competition and Markets Authority (CMA) has announced an in-depth investigation into Broadcom's proposed $61bn acquisition of...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways