The Commonwealth Bank of Australia (CBA) may lay off up to 200 workers in negotiations, according to Reuters.

The source suggests a couple of hundred layoffs and staff redeployment.

CBA, a rival to Westpac Banking Corp, cut 300 consumer and commercial banking jobs in mid-June.

The Australian Financial Review claimed CBA was slashing 251 jobs in its information technology, commercial bank, and retail banking businesses to decrease expenses.

CBA denied the news but stated no customer-facing personnel cuts.