CBA trims branches
Commonwealth Bank is reducing the floor space in branches rather than cutting the number of branches operated by the bank, head of retail banking services Hugh Harley said. CBA aims to reduce the floor space occupied by its 1000 odd branches by 50 per cent. The bank is refurbishing branches and sub-letting space where practical in order to achieve this goal. Harley told the newspaper that CBA aimed to reduce staff numbers by 3700 or about 10 per cent over three years to mid 2006.