Bank admits offshoring a failure

Finsec’s sister union lthe Finance Sector Union of Australia (FSU)  said last week that a Westpac subsidiary bringing back jobs from India to Australia is clear evidence that offshoring doesn’t work. Bank of South Australia, wholly-owned by Westpac, is returning eight credit card positions from India to Adelaide.

“The FSU congratulates Westpac for recognizing that off-shoring is a failed strategy, and that customers expect their bank to employ Australians in Australia,” said National Secretary Leon Carter. “Eight jobs is a start. But the banks’ employees and customers expect all off-shored jobs to come home.”

Carter said the move would delight customers. A recent poll conducted for Senator Nick Xenophon and the FSU showed that ninety one per cent of those polled would prefer to bank with an institution that keeps jobs and data in Australia.


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