‘It is risky to send this information’: Westpac under fire for moving 190 Aussie jobs overseas
- Replies 41
Changes in the banking sector can have far-reaching effects, especially when they involve shifts in workforce strategy and customer service operations.
A recent decision by one of Australia's major banks has sparked concerns among employees and industry representatives.
Workers and union officials have warned of potential risks for customers and data security.
Westpac’s decision to move nearly 200 customer solutions roles overseas sparked backlash from the workers’ union, which warned of potential risks for customers.
The major bank announced that 190 positions in South Australia and NSW would be relocated to the Philippines.
This decision came just months after assuring shareholders that the company was in ‘very good shape.’
The decision followed Westpac’s recent report of a $1.7 billion quarterly profit, despite a 10 per cent decline in earnings.
Less than a year ago, the bank had already transferred 130 roles to offshore locations, including 62 positions in its risk department.
Finance Sector Union National Secretary Julia Angrisano criticised the move, questioning how it aligned with Westpac’s claims of ‘growth and success.’
‘Westpac made $7 billion in profit in the last financial year, a result the CEO said would “set Westpac up for growth and success.” Is this what “growth and success” looks like for Westpac workers?,’ Ms Angrisano said.
The union raised concerns over customer data security, warning that outsourcing skilled banking roles posed significant risks.
‘These are skilled bank workers managing complex commercial relationships and sensitive information,’ Ms Angrisano said.
‘Our members who work at Westpac have told us about their concerns not just for their own jobs, but for customers and the security of their data.’
A Westpac spokesperson responded by highlighting that the bank employed more than 30,000 people across Australia.
‘From time to time, we change the way we operate and this can impact some roles and responsibilities,’ the spokesperson said.
‘When this happens, we work closely with employees to provide tailored support and assistance with career transition.’
'We try to keep as many employees in the Westpac Group as we can, through retraining and redeployment.’
The union said it had reached out to both the NSW and SA state premiers, urging them to intervene.
Workers expressed fears over how sensitive financial data would be handled offshore.
One employee, who wished to remain anonymous, described the decision as risky.
‘It is risky to send this information to Manila,’ the worker said.
Another employee said they were shocked that their role was being outsourced given the complexity involved.
‘I never thought this role would have been outsourced to an offshore “partner” given the complexity and compliance risks associated with the complex accounts we work with,’ they said.
‘Given the sensitivity and risk associated with the kinds of accounts we manage, it’s clear that Westpac hasn’t considered the risk this poses to customers, shareholders and staff,’ another worker added.
‘This will have a detrimental impact on Westpac’s reputation and credibility in the market, it is risky to send this information to Manila!’
With Westpac shifting more jobs overseas, what impact do you think this will have on customers and the banking industry? Let us know your thoughts in the comments.
A recent decision by one of Australia's major banks has sparked concerns among employees and industry representatives.
Workers and union officials have warned of potential risks for customers and data security.
Westpac’s decision to move nearly 200 customer solutions roles overseas sparked backlash from the workers’ union, which warned of potential risks for customers.
The major bank announced that 190 positions in South Australia and NSW would be relocated to the Philippines.
This decision came just months after assuring shareholders that the company was in ‘very good shape.’
The decision followed Westpac’s recent report of a $1.7 billion quarterly profit, despite a 10 per cent decline in earnings.
Less than a year ago, the bank had already transferred 130 roles to offshore locations, including 62 positions in its risk department.
Finance Sector Union National Secretary Julia Angrisano criticised the move, questioning how it aligned with Westpac’s claims of ‘growth and success.’
‘Westpac made $7 billion in profit in the last financial year, a result the CEO said would “set Westpac up for growth and success.” Is this what “growth and success” looks like for Westpac workers?,’ Ms Angrisano said.
The union raised concerns over customer data security, warning that outsourcing skilled banking roles posed significant risks.
‘These are skilled bank workers managing complex commercial relationships and sensitive information,’ Ms Angrisano said.
‘Our members who work at Westpac have told us about their concerns not just for their own jobs, but for customers and the security of their data.’
A Westpac spokesperson responded by highlighting that the bank employed more than 30,000 people across Australia.
‘From time to time, we change the way we operate and this can impact some roles and responsibilities,’ the spokesperson said.
‘When this happens, we work closely with employees to provide tailored support and assistance with career transition.’
'We try to keep as many employees in the Westpac Group as we can, through retraining and redeployment.’
The union said it had reached out to both the NSW and SA state premiers, urging them to intervene.
Workers expressed fears over how sensitive financial data would be handled offshore.
One employee, who wished to remain anonymous, described the decision as risky.
‘It is risky to send this information to Manila,’ the worker said.
Another employee said they were shocked that their role was being outsourced given the complexity involved.
‘I never thought this role would have been outsourced to an offshore “partner” given the complexity and compliance risks associated with the complex accounts we work with,’ they said.
‘Given the sensitivity and risk associated with the kinds of accounts we manage, it’s clear that Westpac hasn’t considered the risk this poses to customers, shareholders and staff,’ another worker added.
‘This will have a detrimental impact on Westpac’s reputation and credibility in the market, it is risky to send this information to Manila!’
With Westpac shifting more jobs overseas, what impact do you think this will have on customers and the banking industry? Let us know your thoughts in the comments.
Last edited:
.png){kind=icon}
