CBA to send 100 technology and compliance roles to India
“It is disappointing for our members that despite the CBA making $8.65 billion in profits, the bank’s management is still prepared to slash jobs and risk customer service standards in pursuit of more profits,” she said. “We can’t afford to lose highly experienced staff and replace them with foreign workers with no experience of the CBA’s operations.”
Mr Birch said affected employees would be consulted over the remainder of the year, with support provided to assist applications for alternate roles within the bank, including “high-growth areas in Australia such as financial crime operations”.
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“I wanted to take this opportunity to reiterate that CBA will always have a large and sophisticated workforce in Australia, and remains committed to supporting and investing in our people,” he said.
A CBA spokesman added the bank spent $1.8 billion on technology last financial year, and would recruit “thousands of people” over the next 12 months. “We remain committed to having our customer-facing roles, such as branch and customer call centres, in Australia and to supporting and investing in our people wherever they are located.”
“The proposed shift of around 100 roles announced in July reflects the reality that we need global experience to deliver our strategy. And by having teams working in a different time-zone we can extend our operations window to both resolve issues and innovate.”
Major bank ANZ began shifting its back-office staff from China to India in March, which insiders said was an attempt to tap into the cheaper labour market. ANZ has long offshored staff to India, with around 5000 operations and 2000 tech staff there to support its businesses across Australia, New Zealand and Asia.
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