Experience go bye bye
While they may in fact be getting rid of positions that originated in the days of the paper based banking system, I suspect it is more a case of experienced workers cost more, and we can hire a bunch of recent grads for next to nothing to lead us in to the future...disaster.
Oh, and if you want to stay with us, just re-apply for your old job, but as a new employee, all the perks that you have earned with seniority are gone. And that spells savings.
Or am I just a jaded old IT worker that has seen this too many times?