Commonwealth Bank of Australia to Cut 300 Jobs Amid AI Push

Commonwealth Bank of Australia is cutting around 300 jobs as it rethinks how to develop its workforce in the age of artificial intelligence.

CBA announced its “Future Workforce Program” on Tuesday, with Chief Executive Officer Matt Comyn saying “hopefully it will accelerate many people’s careers within CBA.” The A$90 million ($64 million) plan is aimed at ramping up skills to help both employees and the bank prepare for the AI revolution and more confidently navigate its uncertainties.