Optus, CBA job cuts reflect need for well-planned change

Following the announcement that Optus and CBA will potentially lay off hundreds of staff, there lies the risk of long-term damage to culture and performance.

Weeks after a $5 million half-yearly profit, CBA confirmed 300 job cuts on Tuesday (24 February), impacting retail, business and institutional banking and human resources, with most roles impacted in technology.

At the parliamentary inquiry on Thursday (26 February), Optus chief executive Stephen Rue said: “I think the transformation program that I put in place on this from when I started, actually, which is always going to take time, I’m afraid. But a key component of that is culture. It’s culture and risk.”

He confirmed that there would be 200 to 300 layoffs as the telco attempts to reset in the aftermath of its 000 outages.

“We recognise some of the changes will have a significant impact on some of our people, and we are committed to approaching this decision with empathy and respect,” an Optus spokesperson said.

The spokesperson said that a consultation process is currently underway, and it is premature to confirm the ultimate impact on headcount.

A corporate gossip Instagram page revealed through an anonymous source that layoffs across Optus and challenger brands are between 10 to 20 per cent, with a focus on efficiency and flattened structures.

The Optus spokesperson said this range is significantly higher than projections in current proposals.

“It would be wrong to inflate the projected impact to that degree,” the spokesperson added.

Kingston Reid partner Beth Robinson (pictured) told HR Leader: “When change is well planned, organisations can reduce legal and reputational risk, maintain engagement and employee wellbeing, and support both departing and remaining employees.”

“Poorly managed processes, by contrast, can lead to disputes, disengagement, resistance to change, and long‑term damage to culture and performance.”

Finance Sector Union national secretary Julia Angrisano spoke about the launch of their campaign, “A Better Way at CBA”, on Wednesday (25 February) and said it aims to secure a future for CBA workers in which profits are shared more fairly.

In its FSU CBA enterprise agreement 2026 agenda, the union seeks: “No forced redundancies as a result of the introduction of artificial intelligence (AI) or other similar technologies.”

On Tuesday (24 February), CBA announced its Future Workforce Program, a $90 million investment including AI Implementation and expanded structured learning programs.

CBA chief executive Matt Comyn said: “Our priority is to transition people into higher-impact roles, which require greater expertise, judgement, critical thinking, and empathy.”

CBA said it will provide a voluntary four-week Career Transition Placement program for workers made redundant, providing hands-on experience in suitable vacant roles, with a dedicated career transition hub that brings together coaching, skills assessment, and access to internal vacancies, providing clear guidance during periods of change.

Robinson said that rapid technological change, AI adaptation, and digital transformation are behind the growing amount and frequency of workforce reviews.

She highlighted the role that HR plays in identifying future skills, retraining options, supporting managers, and taking responsibility for consultation and communication.

“For HR professionals, ‘IT’ and ‘technology’ are no longer decisions that happen ‘over there’. HR needs to be actively involved in ensuring a multidisciplinary approach to planning and managing digital transformation, not responding after decisions are made,” she said.