Westpac, a top Australian bank prompts outcry following mass staff cuts

Australia’s Finance Sector Union (FSU) has called out Westpac, one of Australia’s big four banks, for conducting a series of staff firings over the last two months, while at the same time reporting that the bank had a 22% surge in six-month net profits of over $4 billion. In that time, the bank laid off 751 people across many departments, claiming it needed to “cut costs during difficult economic times.”