Australia’s Westpac has announced a substantial pre-tax restructuring charge of A$273m ($177m) in the second half (H2) of the fiscal year 2025 (FY25). This restructuring charge relates to the targeted productivity initiatives under its Fit for Growth programme. Westpac said its Fit for Growth programme delivered modest benefits this financial year, with overall productivity gains expected to cover the programme’s costs. The bank expects the programme to yield benefits over the subsequent two financial y ...