ANZ Bank to outsource New Zealand jobs to India

July 16th, 2008 - 1:04 pm ICT by IANS  

By Neena Bhandari
Sydney, July 16 (IANS) ANZ Bank will move 238 back office jobs from Wellington and Auckland to India. The announcement comes close on the heels of another of Australia’s four leading banks, the National Australia Bank (NAB), announcing the outsourcing of 500 jobs to India by the year-end. ANZ has started a two-week consultation process with workers at the bank’s lending services centre in Auckland and customer transaction service centre in Wellington over sending jobs offshore to India, reports New Zealand Press Association (NZPA).

The news has been condemned by finance workers union Finsec, which Wednesday accused the Australian-owned bank of being greedy as the work is said to be done at a quarter of the cost in India.

Finsec campaigns director Andrew Campbell was quoted by NZPA as saying that 403 workers were told Tuesday that there would be 165 positions in the future, meaning 238 people would either be redeployed or made redundant.

Banks say that jobs are being outsourced to improve efficiency. While some staff are redeployed others are offered redundancy packages.

Other Australian banks that have outsourced IT jobs to India include Westpac, St George and the Commonwealth Bank.

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