Suncorp axes jobs, closes branches

Suncorp's restructuring will result in at least 120 redundancies with branch closures and mergers also expected. Branches tipped to close or merge are Toowomba, Gladstone, inner-Brisbane Creek Street and Ann Street offices and the Mudgeeraba branch on the Gold Coast. However, Suncorp said the closures could be offset by future branch openings once its restructuring is completed and it could end up with more branches than the current number. In addition, regional managers will probably be given greater autonomy to operate their branches like small businesses.