Commonwealth Bank to Cut More Jobs Amid Broader AI Push

There’s a new wave of job cuts at the Commonwealth Bank, just as some of the world’s largest tech companies move to slash positions as part of a broader shift toward artificial intelligence. While Australia’s biggest lender is eliminating about 120 roles, Meta is looking to cut 10% of its entire workforce, according to an internal memo. Meanwhile at Microsoft, about 7% of the US workforce will be offered voluntary buyouts. None of the moves are likely to soothe growing fears among white collar workers worldwide that their jobs are less safe than they’ve been in a long time.

As you get your morning coffee, don’t forget to check out our exclusive reporting on IFM Investors from my colleague Amy Bainbridge, or the latest on Anglo American from Paul-Alain Hunt. - Ben Westcott, Asia Agriculture Reporter