Westpac confirms 102 job cuts while Westpac stock costs EUR 21.78

Published on 10/16/2026 at 10:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The restructure affects 174 roles, with 72 redeployed at Westpac. Westpac stock costs EUR 21.78 on October 16, 2026; market value is AUD 120.0 billion.

Restructuring and scheduled dates

Westpac's Catalyst restructure affected 174 roles on October 12, 2026.
Westpac reported mortgage applications up 15 percent from the July low on October 14, 2026.
Westpac stock traded at EUR 21.78 at 10:37 a.m. CEST at Lang & Schwarz on October 16, 2026.

Westpac, AU000000WBC1, Illustration mit AI erstellt.

Westpac (ISIN AU000000WBC1) was trading at EUR 21.78 at Lang & Schwarz on October 16, 2026. The bank confirmed that a proposed Catalyst restructure affects 174 roles, including 102 redundancies and 72 transfers, as Human Resources Director reported on October 12, 2026.

Cost control reaches core teams

The proposed changes cover Risk, Institutional Banking and Finance. Westpac told Human Resources Director that it is managing workforce changes while continuing to invest in bankers, digital delivery and customer-facing roles.

The numbers show a targeted reorganization rather than a simple headcount reduction. Of the 174 affected positions, 72 are due to move into comparable roles, leaving 102 proposed redundancies as the direct staffing reduction.

What does housing demand mean?

Westpac's October 14, 2026 research gives the restructuring a second investor context. Mortgage applications were up 15 percent from the July low, while 41 percent of surveyed Australians said it was a bad time to buy a first home, according to Westpac. That combination points to improving lending activity alongside continued housing caution.

Three dated Westpac events

On June 26, 2026, Westpac paid an interim ordinary dividend of 77 cents per share, as stated on its Westpac investor page. On October 12, 2026, the Catalyst plan affected 174 roles, including 102 proposed redundancies. On October 14, 2026, Westpac reported mortgage applications 15 percent above the July low.

Dates for the next results

Westpac's next scheduled reporting date is November 2, 2026, for full-year 2026 results. Its annual general meeting is scheduled for December 16, 2026, according to the investor calendar.

Market value and trading level

Westpac's market capitalization was AUD 120.0 billion on October 16, 2026, while its ASX range for the preceding 52 weeks was AUD 33.46 to AUD 43.32. The current euro quotation places the German-market reference below the Australian share price in its own currency, so the two figures are not combined into one performance measure.

Westpac was trading at EUR 21.78 at Lang & Schwarz on October 16, 2026 at 10:37 a.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of Westpac stock.