Westpac cuts 140 roles as Westpac stock costs EUR 22.13

Published on 10/22/2026 at 10:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

A 140-role reduction hit Westpac on October 22, 2026, Bloomberg said. Westpac stock costs EUR 22.13; ASX last was AUD 35.68 at the close.

Workforce changes and reporting dates

Westpac cut 140 roles on October 22, 2026, according to Bloomberg.
A pre-tax RAMS litigation charge of AUD 41.0 million was recognized in the second half of fiscal 2026.
Westpac stock trades at EUR 22.13 at 10:03 a.m. CEST at Lang & Schwarz on October 22, 2026.
Westpac's 2026 full-year results are scheduled for November 2, 2026.

Westpac, AU000000WBC1, Illustration mit AI erstellt.

Westpac Banking Corporation (AU000000WBC1) was trading at EUR 22.13 at Lang & Schwarz on October 22, 2026 at 10:03 a.m. CEST. The bank cut another 140 roles, according to Bloomberg on October 22, 2026, bringing the publicly described reduction to 242 positions in October. The development gives investors a concrete cost and operating-efficiency issue to track ahead of the bank's annual results.

Workforce reduction reaches 242 roles

The chronology points to a widening restructuring effort. Westpac announced 102 cuts two weeks before October 22, 2026, while the latest 140 roles affect teams across the bank. Bloomberg linked the measures to a weak Australian housing market and greater use of artificial intelligence.

On October 19, 2026, Westpac disclosed a pre-tax notable item of AUD 41.0 million for RAMS litigation and related legal expenses in the second half of fiscal 2026. The disclosure came through an ASX release dated October 19, 2026.

What does the restructuring mean for costs?

The 140 latest positions and the earlier 102 roles make workforce costs a measurable focus for the upcoming report. Bloomberg said the earlier reductions covered risk, institutional banking and finance teams, while the latest cuts target roles across the bank.

Reporting dates set for November

Westpac's 2026 full-year results are scheduled for November 2, 2026, and its annual general meeting is scheduled for December 16, 2026, according to the Westpac investor centre. The same page lists an interim ordinary dividend of AUD 0.77 per share paid on June 26, 2026.

Westpac stock remains tied to execution

On the ASX, Westpac was last at AUD 35.68 on October 22, 2026 at 4:12 p.m. AEDT, with a market capitalization of AUD 121.8 billion. The 52-week range was AUD 33.46 to AUD 43.32, placing the latest Australian quote above its yearly low and below its yearly high.

Westpac operates in the Financial Services sector and the diversified-banks industry. Its workforce reduction, litigation expense and upcoming results date create three separate checkpoints for assessing earnings quality and cost control.

Westpac was trading at EUR 22.13 at Lang & Schwarz on October 22, 2026 at 10:03 a.m. CEST.

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