St George to step up offshoring

St George to step up offshoring

St George Bank plans to shift more back office work to offshore technology centres in India according to a leaked e-mail acquired by Australian newspaper The Daily Telegraph.

Around 80 staff at the bank's Kogarah collections office have already been told that their jobs will be transferred to India and following the e-mail more roles are set to be offshored.

St George chief executive Gail Kelly reportedly told staff in the e-mail that the move would provide it with "the necessary flexibility and agility to compete effectively".

Kelly said that the bank wants to continue to be able to grow and invest in its business "providing more resources and more support to our frontline".

Australian bank Westpac is also considering offshoring up to 400 jobs from its loans processing department in Sydney to a processing centre in Bangalore.

But the move could result in Westpac losing a lucrative contract it has with the New South Wales (NSW) government. NSW Premier Morris Iemma said that any move by the bank to offshore jobs would be taken into account when the contract expires.

Earlier this year National Australia Bank (NAB) said is was offshoring a further 81 back office jobs from its finance and accounting unit to India under an outsourcing agreement with Accenture. NAB is also looking to shift around 100 credit card processing jobs to an offshore centre in order to cut costs.

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