Commonwealth Bank: 300 jobs cut

CBA is cutting 300 positions, primarily in technology roles, while investing $90 million in a three-year AI workforce program to prepare employees for AI-driven changes. There is strong evidence linking these cuts to AI adoption, with company leadership referencing automation and efficiency gains in public statements. Of the 300 total positions affected, our methodology estimates that approximately 225 roles (75%) are attributable to AI-driven changes. This is part of a broader pattern in Financial Services where companies are restructuring operations around AI capabilities while reducing headcount in functions susceptible to automation.