Westpac (WEBNF) Cuts 200 Branch Roles, Boosts $200M Digital Push

Westpac Banking Corporation (OTCMKTS:WEBNF) is one of the best performing ASX stocks in 2025. On September 24, the company said it will offload around 200 teller and personal banking roles across its Australian branch network. The cuts specifically target in-person counter services.

Westpac (WEBNF) Cuts 200 Branch Roles, Boosts $200M Digital Push

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The leadership stated that the move is a response to rapid customer migration to digital banking channels. To this end, the company will invest AU$200 million (about $132 million) over three years to upgrade ATMs and branch facilities. It will also inject AU$5 million for staff training for FY26. Management stated that some affected employees may be redeployed into lending roles or receive retraining for work in digital support roles.

At the same time, Westpac will add 200 positions in home lending and small business banking. This is part of the strategy to expand these sectors, aiming to capitalize on Australia’s growing broker channel. The company determined that these segments have higher lending margins; business lending was up 14% year-over-year.

Westpac Banking Corporation (OTCMKTS:WEBNF) is one of Australia’s “Big Four” banks. It provides retail, business, and institutional banking services across Australia, New Zealand, and the Pacific.

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Disclosure: None. This article is originally published at Insider Monkey.