Big banks spark outrage over changes that could quietly drain Aussie wallets
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If you’ve ever wondered why it’s getting harder to reach a real person at your bank—or why your local branch seems to have fewer staff than ever—you’re not alone.
A recent controversy involving two of Australia’s biggest banks sparked a national conversation about where our jobs are going, who’s benefitting, and what it all means for everyday Aussies.
The Great Offshoring Debate: What’s Happening?
It all started when specialist recruiter and career coach Tammie Ballis took to social media to call out the Commonwealth Bank for advertising a whopping 132 jobs in India—compared to 244 in Australia.
That’s more than half the number of local roles! Ballis, who’s spent years helping Australians find work, didn’t mince words: ‘I’ve had enough of Australian companies pretending to support our country when they offshore jobs,’ she said.
Her frustration is understandable. The roles being advertised overseas aren’t just entry-level call centre gigs—they include highly skilled positions like platform engineers and software engineers.
Ballis argued that, in a multicultural country like Australia, surely there are plenty of qualified, bilingual locals who could fill these roles.
‘Are you telling me, Australia being the multicultural country that we are, that they can’t find someone that’s living here that is bilingual with those skills?’ she asked, highlighting the bank’s public commitment to supporting Australians and paying respect to First Nations people. ‘You’re not for Australians.’
Why Are Banks Offshoring Jobs?
The Commonwealth Bank employs over 5,600 staff in India, mostly in Bangalore, supporting technology and business operations.
In their defence, a CBA spokesperson said the bank only hires overseas when the technical skills aren’t ‘readily available’ in Australia.
They also pointed out that they’ve hired almost 4,000 people in Australia since January, including 570 technologists.
But critics aren’t convinced. With the bank reportedly considering expanding its Indian workforce to 10,000, many fear this is just the beginning of a much larger trend.
Westpac, too, has come under fire for offshoring 160 jobs to the Philippines.
And it’s not just the banks—other big companies have been quietly shifting jobs overseas for years, often in search of lower wages and bigger profits.
The Hidden Costs: Tax, Service, and Community Impact
Senator Gerard Rennick raised the issue in Parliament, questioning whether the government knows how much money is being sent offshore in wages.
The answer? Not really. And here’s the kicker: Australian companies don’t pay tax on wages paid to foreign workers overseas, but they still get a tax deduction for those expenses.
That means less tax revenue for Australia, and potentially higher taxes for the rest of us to make up the shortfall.
‘Not only are we losing jobs, we are losing the tax that those jobs would have paid, while Australian corporations still get a tax deduction despite sending money offshore,’ Senator Rennick said.
‘This is selling Australia out, plain and simple.’
And it’s not just about numbers on a spreadsheet. When jobs go overseas, local communities suffer.
Fewer jobs mean less money spent in local shops, fewer opportunities for young people, and a growing sense of insecurity for workers of all ages.
Real Stories: Aussies Speak Out
The backlash has been swift and passionate. One Aussie commented, ‘Govt should make it illegal for big banks, those above a certain threshold/size, to offshore IT and call centre jobs, especially given their huge billion-dollar $ profits.’
Another shared a personal story: ‘I worked for Telstra and my job went to the Philippines where wages were 1/4 of Australian led to seven extra calls per complaint resolution and time factor extended from four days to 14 days.’
The Bigger Picture: Is Globalisation Leaving Us Behind?
There’s no denying that we live in a globalised world. Technology makes it easier than ever for companies to hire workers anywhere, and for some roles, it makes sense to tap into a global talent pool.
But when big, profitable companies start sending large numbers of jobs overseas, it raises tough questions about loyalty, responsibility, and the future of work in Australia.
For older Australians, who’ve seen industries rise and fall, the current trend can feel like déjà vu. Manufacturing, customer service, IT—no sector seems immune.
And with remote work now the norm, some fear that even more jobs could be at risk.
What Can Be Done?
Some are calling for new laws to limit offshoring, at least for companies above a certain size or profit level.
Others want more transparency, so we know exactly how many jobs are being sent overseas and what it’s costing us in lost tax revenue and community investment.
For now, the best thing we can do is stay informed, support local businesses where possible, and make our voices heard—whether that’s by contacting our MPs, choosing banks that invest in local jobs, or simply sharing our stories.
Have you or someone you know been affected by offshoring? Do you think banks and big companies should be required to keep more jobs in Australia? Or is globalisation just the way of the world now? We’d love to hear your thoughts and experiences—share your comments below.
Read more: ‘It is risky to send this information’: Westpac under fire for moving 190 Aussie jobs overseas
A recent controversy involving two of Australia’s biggest banks sparked a national conversation about where our jobs are going, who’s benefitting, and what it all means for everyday Aussies.
The Great Offshoring Debate: What’s Happening?
It all started when specialist recruiter and career coach Tammie Ballis took to social media to call out the Commonwealth Bank for advertising a whopping 132 jobs in India—compared to 244 in Australia.
That’s more than half the number of local roles! Ballis, who’s spent years helping Australians find work, didn’t mince words: ‘I’ve had enough of Australian companies pretending to support our country when they offshore jobs,’ she said.
Backlash was faced by a major bank after 132 job roles were advertised in India—more than half the number offered locally—sparking concerns about Aussie job prospects. Credit: Facebook
Her frustration is understandable. The roles being advertised overseas aren’t just entry-level call centre gigs—they include highly skilled positions like platform engineers and software engineers.
Ballis argued that, in a multicultural country like Australia, surely there are plenty of qualified, bilingual locals who could fill these roles.
‘Are you telling me, Australia being the multicultural country that we are, that they can’t find someone that’s living here that is bilingual with those skills?’ she asked, highlighting the bank’s public commitment to supporting Australians and paying respect to First Nations people. ‘You’re not for Australians.’
The Commonwealth Bank employs over 5,600 staff in India, mostly in Bangalore, supporting technology and business operations.
In their defence, a CBA spokesperson said the bank only hires overseas when the technical skills aren’t ‘readily available’ in Australia.
They also pointed out that they’ve hired almost 4,000 people in Australia since January, including 570 technologists.
But critics aren’t convinced. With the bank reportedly considering expanding its Indian workforce to 10,000, many fear this is just the beginning of a much larger trend.
Westpac, too, has come under fire for offshoring 160 jobs to the Philippines.
And it’s not just the banks—other big companies have been quietly shifting jobs overseas for years, often in search of lower wages and bigger profits.
Senator Gerard Rennick raised the issue in Parliament, questioning whether the government knows how much money is being sent offshore in wages.
The answer? Not really. And here’s the kicker: Australian companies don’t pay tax on wages paid to foreign workers overseas, but they still get a tax deduction for those expenses.
That means less tax revenue for Australia, and potentially higher taxes for the rest of us to make up the shortfall.
‘Not only are we losing jobs, we are losing the tax that those jobs would have paid, while Australian corporations still get a tax deduction despite sending money offshore,’ Senator Rennick said.
‘This is selling Australia out, plain and simple.’
And it’s not just about numbers on a spreadsheet. When jobs go overseas, local communities suffer.
Fewer jobs mean less money spent in local shops, fewer opportunities for young people, and a growing sense of insecurity for workers of all ages.
Real Stories: Aussies Speak Out
The backlash has been swift and passionate. One Aussie commented, ‘Govt should make it illegal for big banks, those above a certain threshold/size, to offshore IT and call centre jobs, especially given their huge billion-dollar $ profits.’
Another shared a personal story: ‘I worked for Telstra and my job went to the Philippines where wages were 1/4 of Australian led to seven extra calls per complaint resolution and time factor extended from four days to 14 days.’
The Bigger Picture: Is Globalisation Leaving Us Behind?
There’s no denying that we live in a globalised world. Technology makes it easier than ever for companies to hire workers anywhere, and for some roles, it makes sense to tap into a global talent pool.
But when big, profitable companies start sending large numbers of jobs overseas, it raises tough questions about loyalty, responsibility, and the future of work in Australia.
For older Australians, who’ve seen industries rise and fall, the current trend can feel like déjà vu. Manufacturing, customer service, IT—no sector seems immune.
And with remote work now the norm, some fear that even more jobs could be at risk.
What Can Be Done?
Some are calling for new laws to limit offshoring, at least for companies above a certain size or profit level.
Others want more transparency, so we know exactly how many jobs are being sent overseas and what it’s costing us in lost tax revenue and community investment.
For now, the best thing we can do is stay informed, support local businesses where possible, and make our voices heard—whether that’s by contacting our MPs, choosing banks that invest in local jobs, or simply sharing our stories.
Read more: ‘It is risky to send this information’: Westpac under fire for moving 190 Aussie jobs overseas
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