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The Finance Sector Union (FSU) calls on Bendigo Bank to shelve its controversial 2030 Strategy after announcing a $530 million profit for the 2026 financial year.  

Since the strategy was announced last year the headcount of Bendigo Bank staff has dropped 14% partly due to the bank’s ‘strategic partnerships’ with multi-national outsourcing companies Genpact and Infosys. 

Under the partnership 145 Bendigo Bank staff were sent to work at Infosys amid pressure to accept dodgy contracts or be left with no job and no redundancy entitlements.  

These contracts provide Infosys with the unilateral right to determine where an employee works, without any guaranteed future wage increases.  

The remaining jobs have either been cut altogether or replaced with cheaper offshore labour through Genpact. 

Bendigo staff have told the FSU that their workloads have increased, the bank’s IT systems are now a ‘nightmare’ to use and management has not properly explained the changes to staff and have ignored them when concerns are raised.  

The Finance Sector Union said the profit removes any justification for more cuts and makes it harder to ignore the union’s 10 job security demands to address ongoing concerns. 

The demands include no forced redundancies, early and transparent communication with staff, offering redeployment or retraining opportunities and better redundancy support.  

Quotes attributable to FSU National Secretary Julia Angrisano:  

“Bendigo Bank's $530 million profit was only made possible by CEO Richard Fennell treating his staff and customers with complete disdain,” Ms Angrisano said.  

“The remaining workforce won’t be celebrating with an axe hanging over their head”  

“Bendigo Bank management needs to work on the massive trust deficit it has accumulated with workers and the communities they serve.  

“Agreeing to the FSU’s 10 job security demands would be a good place to start. Our demands are reasonable and doable." 

Quotes attributable to an anonymous Bendigo Bank worker: 

Luke described working at Bendigo Bank as ‘chaos’ and the lines of communication have broken down.   

“Everything’s been ripped up and no one seems to know how anything works anymore,” he said.  

“We went from having a very good (in-house) help desk to having to use the Infosys helpdesk."  

“It’s got real issues, calls are dropping out and important messages are not being communicated and problems aren’t being fixed. 

“I think the bank should use a little bit of that profit to fix these issues but I suspect most of it will be used to keep the institutional investors happy.” 

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FSU media contact - Sam Burgess 0434 165 630 or [email protected]