Commonwealth Bank Reverses AI Job Cuts, Calls Back Human Workers Amid Regulatory Discussions
Australian Financial Review
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Details
- Date Published
- 19 Aug 2025
- Priority Score
- 3
- Australian
- Yes
- Created
- 20 Aug 2025, 02:30 pm
Description
Commonwealth Bank was the first in the sector to link redundancies to artificial intelligence but now concedes it still needs humans to meet growing workloads.
Summary
The Commonwealth Bank of Australia decided to halt its AI-driven job cuts, acknowledging the necessity of human involvement to handle increasing workloads. This corporate reversal took place during an Economic Reform Roundtable where the Albanese government considered reviewing existing regulations as opposed to implementing a new AI-specific act. These discussions highlight the tension between automation in the workplace and employment, and amplify the call for balanced AI governance that caters to both technological advancement and workforce security. The event underscores the broader discourse on AI governance and its economic implications, particularly in the Australian context.
Body
Work & CareersWorkplaceAIPrint articleDavid Marin-GuzmanandJames EyersAug 21, 2025 – 5.00amSaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginCommonwealth Bank has reversed its decision to cut dozens of jobs replaced by artificial intelligence after conceding at the Fair Work Commission it still needs humans to meet its growing workloads.The decision came as discussions at the Albanese government’sEconomic Reform Roundtableon Wednesday moved towards a review of existing regulations rather than a standalone AI act, favoured by the unions.Loading...David Marin-Guzmanwrites about industrial relations, workplace, policy and leadership from Sydney.Connect withDavidonTwitter.EmailDavidatdavid.marin-guzman@afr.comJames Eyerswrites on banking, finance, payments, regulation and emerging technologies. Based in Sydney, he is a former legal and investment banking editor at the AFR and has been a business journalist for more than 20 years.EmailJamesatjeyers@afr.com.auSaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreAIIndustrial relationsCommonwealth BankMatt ComynSally McManusJobsAustralian Council of Trade UnionsScott FarquharTrade unionsProductivity summitFetching latest articlesWhat’s the hottest thing in interiors? The great outdoorsDavid MeagherPilates used to be rehab – now it’s a fashion trendThe 25 new watches you need to know nowHow accountants are moving into high-growth jobsHannah TattersallThis exec looks for five H’s when hiring peopleThe 2 things that make good leaders, according to this PayPal execWhat happens when a famed collector and a maverick artist fight?Stephen ToddThe latest Baillie Lodge is an oasis of luxury in the desertForget the beach – this underdog destination’s riches are found inlandRinehart’s $5b US bet: the stocks she’s buyingJoshua PeachThe Pratts v Alex Waislitz: a battle of ‘epic’ proportionsWiseTech faces competition concerns after $3.2b acquisition of e2open