Bank bosses face inquiry over AI and offshore job cuts

Detailed summary

Australia's big four bank bosses face a two-day parliamentary grilling over thousands of AI and offshore job cuts despite posting multi-billion dollar profits.

Pity the Australian banker. Since September 2025, the big four banks have sacked - or are planning to sack - about 6000 of them. More than 10,000 Australian banking jobs have disappeared in the past two years, the Financial Services Union estimates, many offshored or replaced by artificial intelligence. Among them were 3500 ANZ employees shown the door in the year to September, the bank reported on Monday, at the same time it posted statutory net profit up 23 per cent to $7.27 billion. Why that's happening is expected to occupy much of a two-day parliamentary grilling of all the big four's bosses, beginning on Thursday.

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