Media reports today suggest ANZ will offshore 500 jobs to India in the next six months. The FSU has been in touch with the bank, who won’t confirm this number and have not provided specific details. The union will continue to press for details, and will advise FSU members as soon as solid information becomes available.

FSU opposes the practice of offshoring finance sector jobs.  In view of the current economic crisis and the guarantee of tax-payer support for Australian banks, ANZ should commit to - and invest in - their Australian workforce, and keep jobs in Australia.

What is FSU doing to fight the offshoring trend?

FSU continues to lobby the Federal Government about the risks offshoring poses to Australia’s finance sector in terms of employment and skills in an effort to achieve legislation to restrict the ability of the banks to off-shore jobs, such as ‘right to know’ legislation for bank customers.  Evidence used in our lobbying comes from a report by the National Institute of Economic and Industrial Research.  FSU along with other Unions, commissioned this report.  One of the findings was that 850,000 jobs could be offshored in the next twenty years if Government policy does not change.  The NIEIR report is available from our website: click here to view and download.

FSU successfully lobbied for a Federal Senate Inquiry into the impact of offshoring (and mergers) in the finance sector and appeared at the inquiry on Friday 13 March.  We argued that the Federal Government should impose conditions on the taxpayer support banks receive through the $1 billion deposit guarantee, such as the cessation of offshoring.  FSU’s submission is available on our website: click here to view and download.
 
FSU is working with our sister unions in New Zealand and India on a project focussed on the ANZ Bangalore operation to make sure Indian workers are able to join their union and bargain collectively.  This way we improve conditions for Indian workers, but also begin to close the wage gap that makes sending jobs to India an attractive cost consideration.  

FSU has a strong communication line with ANZ.  We can provide a forum for issues members have to be raised with the bank.
 
If your department is under threat of offshoring, and you want to know your rights, contact your FSU Organiser or the Member Rights Centre on 1300 366 378. If you’re not an FSU member, visit our website at www.fsunion.org.au, and join the union online.