The Finance Sector Union (FSU) says ANZ’s proposal to offshore jobs takes the total number of finance jobs offshored in 2013 past 500. Earlier this month 131 ANZ employees were advised that their jobs will soon be done from India.
This followed Westpac’s announcement that 134 jobs are heading offshore to India and the Philippines.
“We are not even two months into the year, and already 500 finance jobs have been offshored. Is it any wonder that finance workers are feeling increasingly concerned about their future?” said FSU national secretary Leon Carter.
Most of the jobs caught up in the latest offshoring announcement are located at ANZ’s wealth and private banking business in Sydney.
The jobs targeted for offshoring involve administration of the pension funds of high-net-worth individuals.
“When these jobs are performed in Australia, the data that workers access is subject to Australian privacy laws. Offshoring these jobs may put customer data at risk,” said Carter.
Staff, jobs and data
A recent Essential Poll found 85 per cent of Australians want banks and other businesses to obtain consumer consent before offshoring their data.
The poll also highlighted significant public concern over the loss of jobs associated with data storage and administration, with 73 per cent supporting government intervention to protect jobs in the services sector.
“ANZ should do the right thing by customers and their loyal staff, and keep jobs and data in Australia,” said Carter.
“And, with ANZ on track to post another record profit this year, it is simply not good enough that 131 finance workers face an uncertain future while working for one of Australia’s most profitable banks.”
Perhaps a super profits tax on banks to fund for the social security benefits / retraining costs of the redundant staff.