Latest news with #Angrisano
Sky News AU
15 hours ago
- Business
- Sky News AU
Commonwealth Bank of Australia taken to Fair Work Commission by Finance Sector Union for allegedly offshoring hundreds of jobs to its subsidiary CBA India
Australia's largest company has been taken to court for allegedly breaching a contract by outsourcing hundreds of local jobs to India. The Finance Sector Union said it has commenced action in the Fair Work Commission against Commonwealth Bank of Australia for allegedly breaching the CBA Enterprise Agreement. CBA has been accused of defying Clause 36 of the agreement which defines redundancy. Redundancy can occur, according to the clause, if the work is no longer required, the work is required to be done at a different location that is not within reasonable commuting distance or if the work is restructured so that the tasks are split up to other positions. The FSU said the bank informed the union on June 10 that 304 redundancies across technology and retail banking jobs were taking place, while it was recruiting for about 100 jobs for CBA India. About 110 of the jobs impacted by the redundancies had a job ad based in India with the same job title, the FSU says. These include positions such as senior software engineers, staff data engineer, staff software engineer, engineering manager, software engineer and senior data engineer. FSU national secretary Julia Angrisano tore into the major bank for its action and said it had caused "outrage" amongst its members. "By hiring for the same job, at their own Indian subsidiary, they're showing themselves to have breached the Enterprise Agreement and essentially lied to their workers," Ms Angrisano said in a statement. "This is the very definition of bad faith." She said the redundancies were "proof" the big banks have a preference for offshoring Australian jobs to boost their bottom lines. "These jobs are not required to be done in India; they're just moving the work there to take advantage of cheaper labour and further line their own pockets," Ms Angrisano said. 'All Australians are paying for the sham redundancy actions of the CBA. "Not only are Australian workers being unfairly and reasonably sacked but this is being subsidised by all taxpayers. Bona fide redundancies are taxed concessionally in the hands of the workers. "It is especially disgusting that the nation's richest company is also reducing the tax take as it makes the final payment to hundreds of Australians that we know are being sacked solely to have their work performed offshore.' A CBA spokesperson rejected the union's claims and said it had met with representatives to "assure them that there is no basis to their allegations". "During the formal consultation on recent workforce changes, the FSU did not raise any concerns with us about like-for-like job changes," the spokesperson said. The CBA spokesperson earlier on Friday said no dispute had been filed with the Fair Work Commission, however, she has since acknowledged the action has been lodged. The lastest row between the FSU and CBA follows the union attacking the bank for slashing more than 150 roles just days after revealing a $2.6 billion quarterly profit. It also comes after the FSU demanding answers from CBA over the axing of 164 jobs from the bank's technology division. Just weeks after this, the FSU hit out over plans to axe 90 roles at CBA's subsidiary Bankwest.
7NEWS
08-07-2025
- Business
- 7NEWS
Bendigo Bank to close 10 branches in Queensland, Victoria and Tasmania
Bendigo Bank will close 10 branches across three states, with the bank blaming 'evolving customer preferences' for its decision. Regional areas in Victoria, Queensland and Tasmania will be impacted the most, with branches closing from August 1. Locations include Bannockburn and Korumburra in Victoria, Malanda in Queensland and Queenstown in Tasmania. Bendigo Bank said the decision was made following 'a review of evolving customer preferences, a reduction in business activity and an increase in costs'. Closing branches was a last resort, chief executive officer and managing director Richard Fennell said. 'Bendigo Bank has more branches per customer than any other Australian bank. We operate the second-largest regional branch network and the third-largest branch network nationally,' he said. 'To preserve what makes our bank unique, we must balance our physical network presence with the need to continue investing in the changing preferences of our 2.7 million customers.' Bendigo Bank says it's 'exploring opportunities' to redeploy staff working at the affected branches. Finance Sector Union National Secretary Julia Angrisano said the closures were a slap in the face for people in regional communities, especially in areas where there are now no other bank branches. 'Three Victorian communities — Bannockburn, Korumburra Yarram, along with Malanda in Queensland, and Queenstown in Tasmania will lose the last of their local bank branches. Also impacted are regional branches in Kings Meadows (Launceston, Tasmania) and Tully (in Northern Queensland),' Angrisano said. 'This is an incredibly disturbing development and does not bode well for the future of Bendigo Bank's presence in regional Australia. 'For a bank which proudly has its regional centre hometown as part of its name, and is fondly known for its community branch network, this decision feels very 'big bank' for all the wrong reasons.' The Finance Sector Union has written to Fennell as well as local MPs of the impacted regional communities, in a bid to save the branches. 'The Finance Sector Union has also raised the issue of consumer and worker regulation of banking with new Assistant Treasurer and Minister for Financial Services Daniel Mullino MP,' Angrisano said. 'It is critical that the federal government step in and protect bank workers and customers given the banks have proven themselves to be incapable of doing anything other than putting profits and shareholders first.' Bendigo Bank branches closing: Stream free on
Yahoo
20-02-2025
- Business
- Yahoo
Westpac slammed for offshoring 190 Aussie jobs: ‘Dangerous'
Westpac has announced it will be offshoring 190 Australian jobs to the Philippines, with South Australian and New South Wales workers mostly impacted. The move has sparked concerns over the security of customer data, with the union warning it could have 'dangerous implications' for customers. The Finance Sector Union said about 190 roles from the major bank's mortgage operations, institutional banking and customer solutions would be offshored. The union said the move came just three months after Westpac's CEO said the bank was 'in very good shape', recording a $7 billion profit in the last financial year. A Westpac spokesperson told Yahoo Finance the changes were in head office and operational functions and 'represent around half a per cent of our workforce'. RELATED 3,000 jobs in the firing line as Victoria orders major public sector review: 'Difficult' Rare $2 coloured coin worth up to $650: 'Worth keeping an eye out' Major job warning after popular side hustle cash boost leaves Aussies with 'regret' 'Westpac is a major Australian employer, with over 30-thousand people across the country,' the spokesperson said. 'From time to time, we change the way we operate and this can impact some roles and responsibilities. 'When this happens, we work closely with employees to provide tailored support and assistance with career transition. 'We try to keep as many employees in the Westpac Group as we can, through retraining and redeployment.'Finance Sector Union national secretary Julia Angrisano has condemned the move. 'These are skilled bank workers managing complex commercial relationships and sensitive information,' she said. 'Our members who work at Westpac have told us about their concerns not just for their own jobs, but for customers and the security of their data.' Westpac workers, who did not want to be identified, told the FSU they were concerned about the implications of their roles being offshored. 'Given the sensitivity and risk associated with the kinds of accounts we manage, it's clear that Westpac hasn't considered the risk this poses to customers, shareholders and staff,' one worker said. Another worker noted the 'complexity and compliance risks associated with the complex accounts' they worked with. Angrisano said Westpac planned to outsource management and ethical review activity to Concentrix, which is an existing partner. 'We've seen what can happen when important work goes offshore, something as important as ethics being offshored can create dangerous implications and have flow on effects,' she said. It comes a year after Westpac cut 132 jobs from its risk-management, operations and sales divisions, with some positions shifting offshore to India and the in to access your portfolio
