RETAIL BANKING | Tony Chua, Australia

2 Australian banks outsource 250 jobs overseas

Westpac and ANZ’s move that has cut jobs in mortgages operation and debt collection is condemned by FSU.

Westpac and ANZ are planning to move as many as 250 jobs overseas to centres in India and other Asian countries in the latest round of outsourcing.

The jobs include mortgage operations and debt collection and affect staff in at least Sydney and Adelaide offices.

Westpac spokesman Paul Marriage said the bank had starting outsourcing again after suspending the practice in 2009 in the wake of the global financial crisis.

“Now that unemployment has come down we’ve decided it’s the right time to recommence our outsourcing,” Mr Marriage said.

“It enables us to support customers to through global expertise, to extend available processing time, capability and efficiency.”

He said the changes would affect “less than 100” staff with the jobs going to global services providers like IBM and GenPact.

View the full story in The Herald Sun.

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