Media Release
Sunday, 15 November 2009
Bank admits off-shoring a failure
A Westpac subsidiary is bringing back jobs from India to Australia in clear evidence that sending jobs
off-shore does not work, the Finance Sector Union said.
Bank of South Australia, wholly-owned by Westpac, is returning eight credit card positions from
India to Adelaide.
Leon Carter, the union’s National Secretary, said the news shows that off-shoring is bad for business,
the workers involved and the Australian economy.
“The FSU congratulates Westpac for recognising that off-shoring is a failed strategy, and that
customers expect their bank to employ Australians in Australia,” said FSU National Secretary Leon
Carter. “Eight jobs is a start. But the banks’ employees and customers expect all off-shored jobs to
come home.”
More than 5,000 Australian finance jobs have been sent off-shore by most banks except Members
Equity.
Underlining why off-shoring jobs is a failed business model, bank emails say the decision is because
Westpac CEO Gail Kelly wants to “delight customers”.
A recent poll conducted for Senator Nick Xenophon and the FSU showed customers would be
delighted.
Ninety-one per cent said they would prefer to bank with an institution that keep jobs and data in
Australia.
“The reason Australian banks emerged from the global financial crisis with billion-dollar profits is
the strength of the domestic market,” Mr Carter said. “But Australians remain strongly opposed to
sending jobs abroad, and expect banks to bring those jobs home.”
Sen. Xenophon proposes that banks receive written consent from customers before sending their
personal data abroad. The vote is not yet scheduled in the Senate.
“It’s no accident that South Australia is getting jobs back from India,” Mr Carter said. “And we can
see more jobs come back if more Senators show they agree with Gail Kelly that off-shoring does not
work.”
ENDS
Media: Jamey Heath, 0432.828.005
Spokesperson: Leon Carter, 0409.946.597
NEWS 
