Bendigo and Adelaide Bank Pushes Back on Calls to Disclose Job Impact of Outsourcing Deals

Bendigo and Adelaide Bank is resisting pressure from unions to reveal the full workforce impact of two major outsourcing agreements, as concerns grow over potential job losses linked to technology and operational changes.

The bank recently signed a seven-year IT services deal with Infosys and a six-year agreement with Genpact, aimed at driving “process and operational improvements.” While the bank acknowledged that teams across technology and business operations will be affected, it said it does not yet have a detailed understanding of the scale of the impact.

Union Raises Concerns Over Job Losses

The Finance Sector Union (FSU) has criticised the bank for failing to provide transparency, stating that its attempts to clarify the number of affected employees were rebuffed during briefings.

The union estimates that job losses could reach into the hundreds, with some reports suggesting up to 1,000 roles may be impacted. It also warned that the effects are likely to extend beyond IT teams, potentially affecting a broad range of functions including agribusiness, lending operations, customer processing, financial crime, contact centres, and wealth operations.

Bendigo Bank declined to comment directly on the union’s claims.

AI and Offshoring Under Scrutiny

FSU national secretary Julia Angrisano described the trend as part of a broader “race to the bottom” among Australian banks, driven by increased adoption of AI and offshoring strategies.

While Bendigo Bank has not detailed the scope of work under the Infosys and Genpact agreements, the focus on process optimisation suggests a potential expansion of AI-driven automation. The bank previously partnered with Google Cloud to access Gemini AI capabilities.

A bank spokesperson indicated that employees who remain will benefit from new tools, improved processes, and opportunities to develop new skills—allowing them to focus more on customer relationships.

Part of a Broader Industry Shift

Bendigo’s restructuring reflects a wider trend across Australia’s banking sector. National Australia Bank and ANZ Banking Group have both announced technology-driven workforce changes in recent months.

Similarly, Bank of Queensland recently partnered with Capgemini to develop AI agents, a move that included offshoring approximately 200 contact centre roles to India.

Across the sector, major banks continue to expand offshore technology operations in regions such as India and Vietnam, as they seek to reduce costs and accelerate digital transformation.

Ongoing Questions Around Workforce Impact

As automation and outsourcing reshape banking operations, questions remain about workforce implications and transparency. Bendigo Bank’s refusal to disclose detailed job impact figures highlights the tension between operational transformation and employee concerns—an issue likely to intensify as AI adoption accelerates across the industry.