Westpac will shift 70 operational roles to three offshore contractors: Genpact, Tata Consulting Services and Concentrix. The union says the move will sap morale.
From the bank's risk division, 62 roles are being reduced at a time when the country faces an "unprecedented level" of scams and cybersecurity threats, the Finance Sector Union (FSU) said in a statement. The job cuts across the risk and operations divisions come on top of the 20 layoffs in January at its sales support unit in the Mortgage Services division, which were outsourced to Concentrix Corp, FSU said. "From time to time, we change the way we operate and this can impact some roles and responsibilities," Westpac said in an email response to Reuters.
One of Australia s biggest banks has cut another 132 jobs across various sections, with some of these roles being offshored to companies in India and the Philippines.
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