The ‘race to the bottom’ on AI job cuts has already started

Bendigo Bank announced significant job cuts as it integrates AI tools, sparking concern among unions. The Financial Services Union criticized this move as a serious threat to Australian jobs, with expected savings of about $70 million suggesting up to 10 percent of its workforce could be affected. The trend reflects a growing reliance on AI across the banking sector.

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Summary by Glance · Original reporting by The Age