(17 November 2011 — Australia) Westpac will be looking offshore and outsourcing more staff as part of a cost-reduction as it axes 188 jobs in its IT department over the next 18 months.According to the Financial Services Union (FSU), the cuts will mainly hit tech staff in Sydney and Adelaide as the bank replaces their roles with outsourced and offshore providers over the next 18 months.
News of the cuts comes just days after Westpac boss Gail Kelly confirmed plans to overhaul its sourcing strategy.
The FSU says the plan is baffling, noting that the bank has previously taken back 600 jobs it had outsourced to HP in Adelaide because outsourcing ‘failed’.