Offshoring – CBA are at it again!

Did you hear the news? This week CBA has announced that more jobs being performed in Australia are going to be sent to CBA’s subsidiary in India.

This will result in 270 permanent roles in the financial crimes area going to CBA India early next year.

This decision was communicated to workers earlier in the week – a meeting was convened with very little notice and within five minutes those working in the Enhanced Customer Due Diligence and Transaction Monitoring teams (part of the Regulatory and Control Operations business) were told the devastating news.

CBA’s decision to offshore these jobs follows its early decision in 2021 to send over 100 jobs from the Payment Services Utility operations team to CBA India.

These are simply cost cutting exercises. CBA posted $9.5B in profit this past financial year – they can afford to keep these jobs in Australia!

Make sure CBA are held to account at the AGM by asking – What is CBA’s offshoring agenda?

CBA’s AGM is only days away on Wednesday 12 October. As many CBA employees are also shareholders, you have the right to ask questions to be considered at the AGM.

Questions you could ask – What is CBAs offshoring agenda? When other banks are bringing jobs back to Australia, why is CBA offshoring? With $9.5B profit, why are jobs being sent overseas? Are jobs in my department next in line?

Hurry – your questions need to be lodged by Wednesday 5 October and can be done online here.

(Note you will need to have your HIN/SRN numbers which are located on the top right corner of your holding statement and other shareholder communications)

Share how this affects your work

Members have already expressed their concerns about the offshoring of these jobs and how this will impact on their work here in Australia.

Share your views as to how your work will be affected by this change to the Regulatory and Control Operations business

Your FSU Team

Please let your colleagues know about this and if you’re not an FSU member join here today

Authorised by Julia Angrisano, National Secretary