Big Four Bank Westpac to Close Multiple Branches

“Big Four” bank Westpac is closing several branches in Victoria and New South Wales (NSW) to the dismay of Australia’s Financial Sector Union (FSU). The FSU said it has been notified by the bank that it is planning to close the Westpac branch in Newcastle along with four branches run by its subsidiary Bank of Melbourne. This follows the bank announcing it would close 20 branches in 2023, before backtracking on eight of these closures amid community pressure. FSU National President Wendy Streets noted banks were an essential service and raised concerns customers were being pushed into digital banking. “This is not about customers preferring digital banking as Westpac claims. Having booked a $1.5 billion first-quarter profit last month, you would think Westpac could continue to offer banking services to customers within its existing branch network. Instead Westpac continues to slash at its infrastructure and people,” Ms. Streets said....