Media releases

Bendigo Bank has announced a restructure that will impact 637 technology workers, with 145 jobs axed and further cuts to 13 jobs in mortgage help.

This comes just a week after BOQ cut 200 jobs and offshored half of its contact centre to India, under a deal with outsourcing giant CapGemini.

The FSU says Bendigo Bank’s decision was spurred by a five-year plan to ‘optimise’ branches and create ‘efficiencies’ through automation, which we all know means winding back customer service, cutting branches and threatening jobs. 

Staff in Bendigo’s technology division were given just six days of consultation for this massive restructure.

Workers in mortgage help were only given two days of consultation, leaving workers in both divisions with no meaningful opportunity to consider the proposal, how it may impact them, or ask questions or provide feedback.

The FSU has consistently called out the big banks for gutting branches and technology teams while posting strong profits, including Bendigo Bank’s recent $514 million profit result. 

By rewarding executives and cutting jobs, both banks have adopted the same playbook as the big banks, the union says.

The FSU has escalated the Bendigo Bank matter to the Fair Work Commission after it failed to provide sufficient information to workers about the change and only offering to extend the consultation period by three days.

Finance Sector Union National Secretary Julia Angrisano said:

“Bendigo and BOQ like to market themselves as different, but they’re following the same playbook as the big banks. Workers are being blindsided, jobs are being offshored and customers are left with poor service. They’re no different to ANZ, CAB or NAB.

“Three banks in less than a week have cut jobs — ANZ, NAB and now Bendigo. Add BOQ last week and it’s clear this is a tidal wave of cuts hitting workers across the sector.

“This is not consultation, it’s box ticking, Bendigo and BOQ are profitable, yet loyal workers are being thrown on the scrapheap while executives pocket bonuses.

“Customers, once again, pay the price when experienced technology and mortgage help staff are lost, with longer wait times and reduced services, particularly at a time when lending will be more accessible to first home buyers.

“Across the sector, workers are being asked to do more with less while fearing for their jobs. Bendigo’s five-year strategy appears to be nothing more than a roadmap for job destruction. Workers and customers deserve better.”

Media contact: Kate Shuttleworth – 0447 418 726, [email protected]