Bendigo Bank Restructure to Cut 150 Tech Jobs, Union Says

Bendigo Bank is making changes that a union says will cut 145 jobs and affect hundreds more.

The front entrance of a Bendigo Bank branch in Brisbane CBD in Australia on Aug. 28, 2025. Daniel Y. Teng/The Epoch Times

The Finance Sector Union (FSU) says Bendigo Bank is cutting 145 technology roles as part of a restructure that could affect more than 600 staff.

The union has lodged a case with the Fair Work Commission, arguing employees were given just six days to respond to the proposed changes.

Bendigo Bank has not confirmed the number of job losses but said it regularly reviews its operations and is focused on productivity.

“Bendigo Bank’s purpose is to feed into the prosperity of its customers and the community,” the spokesperson told The Epoch Times.

“[We] remain committed to consulting with our people whenever changes are identified that will impact them and ensure those impacted have the support they need.”

Union Response

The FSU said technology staff had been given only six days’ consultation to prepare for the ensuing restructure.

“Three banks in less than a week have cut jobs—ANZ, NAB, and now Bendigo. Add BOQ last week and it’s clear this is a tidal wave of cuts hitting workers across the sector,” FSU Secretary Julia Angrisano said in a statement.

She said customers would feel the effects through longer wait times and reduced services, particuarly as lending becomes more accessible to first-home buyers.

“Across the sector, workers are being asked to do more with less while fearing for their jobs,” Angrisano said.

“Bendigo’s five-year strategy appears to be nothing more than a roadmap for job destruction. Workers and customers deserve better.”

Branch Closures

In August, Bendigo Bank announced it was closing down 10 branches across Victoria, Queensland, and Tasmania.

Chief Executive Officer Richard Fennell said the closures were part of a broader strategy to maintain the bank’s regional identity while adapting to digital banking trends.

The bank also announced in July that 28 of its regional banking agencies would shut by October.

ANZ Cuts Thousands

The Bendigo claims come just days after ANZ announced it would be cutting 3,500 staff by Sept. 26 as part of a major restructure.

The bank said it would also scale back its reliance on consultants and contractors, affecting around 1,000 managed services workers.

CEO Nuno Matos said the job losses would be handled carefully.

“My ambition is for ANZ to be the best bank for our customers, while ensuring we sustainably meet the performance expected over the long-term,” he said in a statement.

“We know this will be difficult news for some of our staff. While some of these changes have already commenced, we are committed to working through the impacts as quickly and safely as we can, with both care and respect for our teams affected.”