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Posted: 2017-08-09 04:37:09

Treasurer Curtis Pitt has urged the Commonwealth Bank to rethink its decision to make 150 Brisbane employees redundant, flagging the impact it could have on the bank's relationship with the Queensland government.

In June, the bank announced it was making 150 home loan processing jobs redundant, a decision labelled as a "kick in the guts" by the Finance Sector Union.

It comes as the bank reports a full-year profit of $9.88 billion.

Mr Pitt has written to Commonwealth Bank chief executive officer Ian Narev to express his "disappointment", arguing the significant reduction in skilled jobs was not helpful to Queensland's positive economic performance.

"It is difficult to not interpret your decision as an indication of how the Commonwealth Bank views Queensland and Queenslanders," Mr Pitt wrote on Tuesday.

"Involuntarily closing an entire department in Queensland instead of pursuing voluntary redundancies across all three cities seems to be one of convenience rather than one of respect."

Mr Pitt went as far as to say the bank's position "could be perceived as damaging" to the successful and productive relationship between the bank and the people and "State of Queensland".

"I urge you to reconsider this action," he said.

Mr Pitt said the Commonwealth Bank's contract with the Queensland government expired on June 30, 2019, with the option of two two-year extensions.

"While the Commonwealth Bank's business decisions are a matter for the bank, the state's view about the exercising of the options will be informed by the bank's contribution to Queensland as a significant business and employer," he said.

Mr Pitt said he was informed the Queensland office had a record of performing effectively and efficiently, achieving the required productivity goals and KPIs.

"I also understand there is three-and-a-half years to run on the lease on the purpose-built Queensland office. I can see no impediment to a reversal of your decision."

The Commonwealth Bank has been approached for comment about the letter.

The bank has been under pressure, following allegations by the government's financial intelligence agency, AUSTRAC, that CBA repeatedly breached anti-money laundering laws.

Previously, a bank spokeswoman said the change in Brisbane would take effect over the next 12 months.

"We understand that this is a difficult time for those affected and this decision has not been taken lightly," she said.

"We have provided affected people with at least nine weeks' notice and personalised support to help them identify other roles.

"This support includes developing a compelling resume, networking and interview coaching."

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