The Federal Government needs to review all bank licensing arrangements to ensure that Australia’s major banks maintain back office jobs in the country, the Finance Sector Union said today.

The call follows revelations that Westpac plans to send more than 3000 back office jobs to overseas locations such as India over the next three years, in move that would deliver a heavy blow to the Australian finance industry.

FSU National Secretary, Leon Carter said that the bank’s move would hollow out the Australian finance industry, leaving a nation of bank shop fronts.

“Back office workers are the backbone the Australian’s major banks performing hundreds of important task such as handling customers’ sensitive banking information,” Mr Carter said.

“Swiping out more than 3000 of these jobs will mean that only the façade of an Australian bank would be left behind. In essence, Westpac’s announcement is a carve up of its business and its Australian employees are being treated as offcuts. ”

“We know that working families are coming under fire by the banks with successive interest rate hikes, huge fees, and now they are going to take away thousands of Australian jobs,”

“Banks like Westpac’s owe their customers and their community much more than this,”

“What’s needed now is for the Federal Government to take this opportunity to rein in the Banks and protect bank jobs from being sent offshore,” Mr Carter said.
 
Mr Carter also said that Westpac CEO, Gail Kelly today needed to reassure customers and workers that these jobs will not be sent offshore in the next three years.

ENDS
Spokesperson:  Leon Carter, 0409 946 597
Media:    Tim Fitzsimmons, 0423 375 522