New year Colonial bank branch closures
As part of Commonwealth Bank's takeover of Colonial State Bank, seven branches on the New South Wales north coast will close in the new year. According to CBA, staff at these branches will not lose their jobs. Despite this, the Finance Sector Union says staff relocation can be traumatic for employees and that branch closures could effect small businesses in the area dependent on customer traffic generated by the branches.
‘Colonial Bank branches to shut doors', ABC News Online, 12/12/00.