By Jessica Stanic · 18 March 2009 · Locked
The Commonwealth Bank of Australia is bracing for the worst, with its CEO hinting at possible job cuts. Will the banking system be the next casualty of the economic downturn?
The Commonwealth Bank of Australia (CBA) has refused to rule out possible job cuts within the bank, as they prepare for the worst. According to CBA chief executive Ralph Norris, the economy is set to get worse as unemployment rises and further threatens the banking system. “There’s no doubt that the toughest period in the […]
Tags: Australian Economy, Banking System, Commonwealth Bank, Negative Outlook, Profit Margin, Unemployment Rate