Qantas is sacking another 850 workers and sending the roles to Accenture, a New York consulting multinational that will pay little Australian tax. David Jones has entered voluntary administration with 6,000 jobs at stake, and NAB, Telstra, Woolworths, Coles, Westpac and CBA are cutting staff too. Michael West argues the fix sits with a government that has not caught up with AI, and with an ANZ that sacked 3,500 people, absorbed Suncorp and now wants back into wealth management.
Chapters:
00:00 Qantas Cuts 850 Jobs
00:34 David Jones Administration
01:34 AI and Job Losses
02:36 AFR and ANZ
04:38 ANZ Profit and Sackings
06:50 Suncorp Takeover
09:03 Wealth Management Return
12:09 Treasury Note Market
13:10 ACCC, ASIC and ATO
14:14 Social Fabric Warning
Articles Mentioned:
Qantas to slash hundreds of jobs, send roles overseas / https://michaelwest.com.au/qantas-to-slash-hundreds-of-jobs-send-roles-overseas/
Tax data: corporate tax dodgers revealed / https://michaelwest.com.au/taxdata-corporate-tax-dodgers-revealed/
David Jones: a lesson for retailers as staff reassured / https://michaelwest.com.au/david-jones-a-lesson-for-retailers-as-staff-reassured/
NAB axes thousands of jobs in major restructure / https://michaelwest.com.au/nab-axes-thousands-of-jobs-in-major-restructure/
ANZ plan delivers with big banks’ best result in years / https://michaelwest.com.au/anz-plan-delivers-with-big-banks-best-result-in-years/
ANZ Suncorp: what’s the scam / https://michaelwest.com.au/anz-suncop-whats-the-scam/
ANZ wins fat cat super fund gong once again / https://michaelwest.com.au/anz-wins-fat-cat-super-fund-gong-once-again/
End the banks’ grip on debt markets, let citizens in / https://michaelwest.com.au/end-the-banks-grip-on-debt-markets-let-citizens-in/
Patreon: https://www.patreon.com/thewestreport
Website: https://michaelwest.com.au
Michael West established Michael West Media in 2016 to focus on journalism of high public interest, particularly the rising power of corporations over democracy. West was formerly a journalist and editor with Fairfax newspapers, a columnist for News Corp and even, once, a stockbroker.
