ANZ to send 500 IT jobs to India

ANZ to send 500 IT jobs to India

Summary: In yet another shake-out of the Melbourne banking scene, Australia and New Zealand Banking Group today confirmed it would send around 500 information technology and back office jobs to India by year's end.


In yet another shake-out of the Melbourne banking scene, Australia and New Zealand Banking Group today confirmed it would send around 500 information technology and back office jobs to India by year's end.

"In 2008, the size of the operation in Bangalore grew by around 500 people and it is reasonable to expect there will be similar growth in 2009," a spokesperson said in a statement. The majority of cuts are likely to come from its Melbourne headquarters.

Today's announcement follows the bank's decision late last year to cut 800 roles by the end of 2008. Those cuts targeted mid-level managers, including technology staff, however, the bank would not disclose the exact number of IT staff affected.

ANZ has owned its own Indian operations and technology business in Bangalore since 1989, with the centre focused on software development and maintenance. ANZ claims to employ around 3,000 staff there, with that figure now set to jump to 3,500 by the end of the year.

"Growth in Bangalore will be in technology and back office operations roles," the spokesperson said. ANZ said it intended to maintain its call centre operations in Australia and New Zealand.

The bank has yet to find a replacement to its former chief information officer Peter Dalton, who after two years in the role was shunted sideways as part of an executive level restructure to a position beneath ANZ's group managing director for strategy and marketing, Margaret Payn.

Dolaton's role is currently being shared between group managing director of operations, technology and shared services, David Cartwright, and deputy chief information officer Kieran Griffiths.

Fellow Melbourne-based bank National Australia Bank, which yesterday announced a senior executive shake-up, which has resulted in the replacement of Michelle Tredenick as its CIO, has recently attempted similar moves to ANZ. NAB's recent attempts to offshore more technology work to India, however, has been thwarted by the financial turmoil weathered by its offshore partner, Satyam.

Topics: Outsourcing, Banking, India

Liam Tung

About Liam Tung

Liam Tung is an Australian business technology journalist living a few too many Swedish miles north of Stockholm for his liking. He gained a bachelors degree in economics and arts (cultural studies) at Sydney's Macquarie University, but hacked (without Norse or malicious code for that matter) his way into a career as an enterprise tech, security and telecommunications journalist with ZDNet Australia. These days Liam is a full time freelance technology journalist who writes for several publications.

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    I am glad I stopped banking with them a couple of years ago. The ANZ are the most deceitful, dishonest and backstabbing bank out of the lot of them.

    They simply have no conscience at all. When you think you've seen it all the banks always manage to find new ways to be bastards.
  • ANZ to increase jobs in India to 3500 ?? !!

    Why are we tolerating this as a nation?
    Why is the Government allowing this to happen?
    A Free Market economy does not have to mean we export all our jobs, surely?
    A free market economy should assume that the fundamentals of our own economy are sound enough to be able to 'trade' in that free market economy. We are not trading .. we are exporting our jobs and doing the Australian workforce a huge disservice.
    I am not unionist by far - quite the opposite. I do wonder though why unions have allowed this to happen.
    Ponder for another moment. We have dependence on Foreign Oil which leaves us, as we have all experienced, very very exposed to the whims of a foreign cartel - OPEC and then to the whims of the Oil refineries overseas who go another step further to manipulate the supplt/demand of refined Oil - petroleum.
    Now, I am no fortune teller, and I have no crystal ball, but even the everyone's best mate 'blind freddy' will tell you at some point in time we will be held to ransom by those we have outsourced services to. One day ANZ, your 3500 Indian employees will realise just how much power they have over you, and guess what, they are in India!
    Come on Australia - Wake Up!
    Come on Rudd - Smell the coffee here please. Start creatign an environment HERE in Australia that Australian companies can Outsource to. Nothing wrong with Outsourcing, repeat nothing! Just make sure you Outsource WITHIN AUSTRLIA - how about thinking about legislating it. Keep the Jobs in Australia.
  • How can they call themselves an ANZ anymore!!

    I think it is disgusting, they should not be allowed to call themselves the Australia and New Zealand bank anymore...

    I have had an ANZ account for many years and seen the level of service get worse... but this is the last straw... I will be voting with my feet and closing my account and we should urge all other ANZ customers to do the same.
  • simple common sense

    This is definitely impacting Australia economy Mr. Rudd. People are losing jobs here in Australia. Your grant and any other bonuses won't give much impact to Australia economy. Stop outsourcing to overseas and you will see unemployment rate goes down and economy will recover by itself. i'm not an finance guy. but it's just a common sense. Also, australian companies who outsource their operation tasks should think. If unemployment rates goes up, people don't have money to use or buy your products or services. at the end of the day, you will close down soon too. And how about customers' information? there is no guarantee if the information is secure. Those indians may sell them. Will Australia law apply to them???
  • It is Good to outsource to India if Indian companies put up their shop here and

    In Australia there are Indian Companies such as HCL Technologies, Infosys, etc which employ more than 7000. Rough figures.

    Interesting is ANZ has its own set up in India which states that it is purely going there for cost efficiency. what is important, is it restricts this practise to this level and does not move forward removing more JOBS.

    It is becoming more and more Capitalistic society. It would have been reverse if Communism has been here. You cannot see russians outsourcing.
  • Indian Software companies set up shop in Parramatta.

    To read the full story click on this link

    The culprit is ANZ it would have been very good if ANZ has outsourced to Major IT companies than setting up its own Shop in India.

    When Indian Companies are coming here to offer their services why should ANZ go there and set up its Shop. It could have outsourced to Large IT Indian companies which could cost effectively run their operations in Sydney. May be out of 500 jobs 300 would have remained here.

    ANZ the culprit
  • Pathetic

    The sad thing is that the savings are very small when compared to the over operation of the bank and the profits it makes - it is a boring, predictable and uninspiring strategy. All it does is 'hollow' out our economy, depress living standards and lock the bank into a commercial arrangement they will find hard to change - what will they do when the Indians start putting up their costs. Indians are not better they are merely CHEAPER.