Commonwealth Bank of Australia (ASX:CBA) plans to let go of 170 members of its technology teams, The Australian reported Friday.

The bank notified staff on Friday, according to the report.

"CBA employs around 49,000 people across Australia. Within a workforce of this scale, there is ongoing movement through hiring, internal mobility and recruitment in priority capability areas," a CBA spokesperson said in an emailed statement to MT Newswires. "We also regularly review the roles and skills we need to deliver the best customer outcomes. Some tasks and skills required are changing, some roles are reducing as programs finish, and new roles are being created."

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