By Nisha Gopalan | Bloomberg April 12 at 7:02 AM
Ten thousand here, another couple thousand there. Lately, dramatic job cuts seem to be par for the course at the world’s banks.
Even by those standards, though, Commonwealth Bank of Australia’s plan to trim 10,000 to 12,000 jobs is eye-popping. The lender is “secretly” preparing to cut a quarter of its workforce in coming years, and shutter up to a third of its almost 1,000 branches, The Australian reported.
What’s curious is that Commonwealth – the biggest of the four banks that dominate deposit-taking and lending in Australia – is acting an awful lot like cornered prey when things don’t seem so bad.
For one thing, the lender got off