ANZ

Financial Context

Illustrative wage differential: if the 11,500+ reported offshore roles were instead employed in Australia at average local rates, the additional cost could be in the order of ~$978M/yr (~15% of reported net profit). This is an estimate based on industry averages, not company-specific data.

Would this company be profitable without offshoring?

Every dollar paid offshore leaves the Australian economy, reducing local wages, tax receipts, and economic circulation. Why it matters

Financial data: FY2024. Estimate uses avg AU employment cost of $110,000+/yr (incl. super and on-costs) vs offshore $25,000/yr (salary + on-costs). Actual figures vary by role, seniority, and location.

In Plain English

• In 2024, ANZ was reported to have 11,500+ offshore contractors and staff.
• This represents ~29.5% when compared to its current workforce of 39,000 (illustrative comparison only, not directly reported by the company).
• 🇮🇳 9,000+ staff reported in India in IT, Back Office, Customer Support.
• 🇵🇭 2,000+ staff reported in Philippines in Back Office, Call Centre.
• Known outsourcing partners include Accenture, Infosys, Tata Consultancy Services, Deloitte, PwC, EY, KPMG, DXC Technology, IBM, McKinsey, Genpact.
• 3,500 Australian jobs have been cut, with all occurring during periods of offshore expansion.

Based on data from public sources at the dates reported. Figures may not reflect current headcount. See sources below for full attribution.

The Story

• September 2026ANZ's offshore hubs in India and the Philippines have reached 11,500 employees, almost 30% of its total workforce and the highest share of the big four. The figure is published here as 11,500, up from the 11,000 this page carried from May 2026. Alongside it, ANZ began restructuring more than 400 technology roles, with more than 100 redundancies expected, as it consolidates software testing under a single strategic partner. Quality assurance engineers, lead engineers, product owners and project managers are among the roles affected, and a source not authorised to speak publicly said ANZ had been deep in discussions with Indian IT firms Infosys and HCLTech. Those discussions are not recorded as a vendor relationship here, because talks are not a signed deal. Note also where these jobs are: they are New Zealand roles, cut from ANZ's 1,500 permanent IT positions there, so they are not counted in the Australian layoff totals on this site. New Zealand's Workers First Union said the final number could rise as hundreds of staff were moved into markedly different roles. It follows ANZ confirming the closure of a 60-person call centre in Dunedin; it employs about 8,000 people in New Zealand. An ANZ spokeswoman tied the changes to the ANZ 2030 strategy: “While some roles will conclude, we're directing our focus to areas that will deliver the biggest difference for our customers, including investing in data, cybersecurity and engineering.” Chief executive Nuno Matos had completed about 3,000 of his 3,500 announced cuts as at 30 June. [National Business Review (NZ), reporting the AFR]
• September 2026ANZ's technology division restructure covers more than 400 roles, including quality assurance engineers, lead engineers, product owners and project managers. More than 100 New Zealand jobs are at risk and the bank is considering moving software testing work offshore. ANZ now employs about 11,500 people across its technology and operations hubs in India and the Philippines, close to 30% of its global workforce. These cuts sit inside the 3,500 announced to September 2026 rather than on top of them: about 3,000 had been completed by 30 June, and the FSU puts the number affected so far at roughly 600. No separate job-loss figure is recorded here, because doing so would count the same people twice. (Correction: an earlier version of this entry attributed figures of 232 roles affected and 172 redundancies to ANZ. Those are Commonwealth Bank figures, for its New South Wales technology team, and are recorded on CBA's page instead.) [People Matters ANZ]
• May 2026ANZ has around 9,000 staff in two Bengaluru offices and 2,000 in Manila. Offshore workers represent ~28% of the bank's workforce. An insider said ANZ is likely to stay around its current offshore headcount as CEO Nuno Matos emphasises efficiency and productivity. [People Matters (reporting AFR)]
• November 2025ANZ announced approximately 3,500 redundancies. CEO Nuno Matos said the bank was making "difficult but necessary changes". [Unfair Dismissals Australia]
• 2025ANZ outsources contact centre operations in the Philippines alongside its India-based back office and IT functions. [Matchboard]
• 2025ANZ's Group Capability Centre in Bengaluru and Manila represents approximately 20% of the bank's entire workforce (~7,800 of 39,000 employees). The GCC has supported ANZ's core operations and technology since 1989, over 35 years of offshoring. [ANZ Careers]
• October 2024ANZ had 13,740 staff outside Australia and New Zealand versus 19,340 onshore. 41.5% of the workforce is offshore. Australian FTE staff decreased by 250+ in the year, while 800 were hired in 'rest of world.' [Australian Financial Review]
• November 2023ANZ cut 60 roles with 30 sent to India, on the eve of a multibillion-dollar profit announcement. FSU national secretary Julia Angrisano: 'Profiteering and offshoring of jobs to India is an atrocious way to treat hardworking and skilled staff.' [Australian Financial Review]
• 2012-2015ANZ shifted approximately 1,500 IT positions and 2,000 operations roles from Melbourne to India. [Wikipedia]

All facts sourced from public reporting. No editorial commentary. Click source links to verify.