Commonwealth Bank of Australia Faces Confrontation Over AI Plans
Leaders of the Commonwealth Bank of Australia (CBA) will be confronted by members of the finance union and bank staff regarding AI and offshoring plans.
The bank had to rewind some of its AI implementation after it led to a wave of terminations. At the bank’s annual general meeting, where leaders will inform shareholders of its $10 billion profit for the financial year, members of the Finance Sector Union (FSU) and CBA staff will express their concerns.
“CBA’s backflips and admissions show pressure and panic, not principle. Workers deserve better,” said FSU national assistant secretary Nicole McPherson. “AI and offshoring aren’t future risks; they’re real threats today. CBA needs to front up and be honest.”
- The FSU found that CBA India’s headcount increased from 5,630 to 6,788, a 21 per cent increase in the past financial year.
- This also represents a 138 per cent increase since 2022.
Author's summary: CBA faces confrontation over AI plans and offshoring.
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