ANZ Bank announces slashing of 500 jobs
Tuesday March 17, 2009
ANZ Bank announces that it is cutting 500 bank jobs from its company with plans of outsourcing to India in order to save money in the face of the impending recession. The bank stated that it will move 500 back-office jobs to India from Australia by the end of 2009. The majority of these back office jobs will be taken from the back office and technology operations jobs.
ANZ Bank call centres will remain in Australian and New Zealand.
The announcements have resulted in Finance Sector Union calling for the Federal Government to place conditions on its $700 billion guarantee program for deposits.
Launched in October 2008, the Federal Government's guarantee program is designed to financially assist all Australian-owned banks, building societies and credit unions over the next three years to help them survive the credit crunch and recession. However, the actions of the ANZ Bank have resulted in the Finance Sector Union asking for the program to benefit banks that keep deposit account jobs in Australia.
