The Finance Sector Union (FSU) says the Bank of Queensland’s full-year profit result of $383 million is built off the backs of workers who face the prospect of losing their jobs through offshoring and aggressive cost-cutting in Australia.
In August, BOQ confirmed 200 job losses linked to a deal with outsourcing giant CapGemini. New information reveals that this deal is much bigger than initially announced with plans for around 550 CapGemini roles required to do BOQ’s work.
The FSU called on BOQ to be transparent on the scope of its deal with CapGemini and has taken two disputes to the Fair Work Commission.
These both challenge the genuine nature of the redundancies and argue that the bank has failed to properly consult the union and workers about its offshoring deal.
The matter is to be heard by the Commission on 28 October.
The union is calling on BOQ to stop misleading workers and customers about the scale of its offshoring agenda.
Finance Sector Union National Assistant Secretary Nicole McPherson said:
“BOQ has been planning to outsource work and cut local jobs for months.
“BOQ has refused to draw a line in the sand and guarantee that there would be no further job cuts planned under its CapGemini deal.
“This latest information exposes a serious lack of transparency. The bank needs to come clean about the scale of its deal to offshore work and identify which Australian jobs are next in line.
“Today’s profit result of $383 million shows BOQ executives are turning healthy profits, yet hundreds of Australian workers are left anxious about the future.
“Our members deserve honesty about where their jobs are going and why. Profit should never come at the cost of people’s livelihoods.”
Media contact: Kate Shuttleworth – 0447 418 726 or [email protected]
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