Bendigo Bank allegedly running ‘spill and fill’ job cuts on risk and compliance teams

An alleged anonymous tipster has shared claims that Bendigo Bank is looking to clear out some of its risk and compliance teams before Christmas.

According to media sources, an anonymous individual allegedly close to the situation has said that Bendigo Bank is undergoing a “spill and fill” restructure, in which roles are axed and affected employees have to apply and compete for the smaller pool of jobs.

“Bendigo Bank is undertaking a ‘spill and fill’ of second line risk and compliance with people being made redundant as of mid-December,” the tipster said.

“As a community bank, surely they can take a leaf out of NAB’s book and hold out until after Christmas.”

Banking Daily reached out to Bendigo Bank for comment on the matter and is awaiting its statement.

The rumours come not long after the Australian Services Union (ASU) said 137 workers at Bendigo and Adelaide Bank are set to be made redundant as part of the ongoing restructure at the bank, which will see 299 job changes across the bank’s consumer lending and customer care sectors.

The cuts are part of the group’s 2030 strategy and chief executive Richard Fennell’s goal of reducing operational costs by up to $75 million annually by 2028.

“The bank has told us that, as a partnership with an offshore technological company, it’s making efficiencies through these redundancies,” said ASU SA-NT branch secretary Ella Waters.

“We’re yet to see what that means for whether or not these workers are going to be completely replaced by AI, but we’re extremely concerned that, in the name of technological advancement, hundreds of jobs are being cut.”

Despite ASU’s comments, Bendigo Bank said its restructuring plans were not yet confirmed and refused to say whether AI would play a role in filling the terminated jobs.

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