Bendigo and Adelaide Bank
ASX:BENRegional bank operating in Victoria, South Australia, and nationally.
Reported Offshore Headcount
Confirmed
Estimated % of Workforce
N/A
Destination Countries
Modern slavery statement: suppliers utilise offshore locations. Outsourced service arrangements and offshore operations with contracted workers. Bank has less visibility over these.
Financial Context
Market Cap
$6.5B
Revenue
$2.0B
Net Profit
$500M
Financial data: FY2024.
In Plain English
- Bendigo and Adelaide Bank has confirmed offshore operations in 🇮🇳 India.
- Known outsourcing partners include Infosys, Genpact.
- 346 Australian jobs have been cut.
Based on data from public sources at the dates reported. Figures may not reflect current headcount. See sources below for full attribution.
The Story
- April 2026Bendigo Bank signed a 7-year agreement with Indian IT giant Infosys (IT services, software engineering, AI tools) and a 6-year agreement with American firm Genpact (process optimisation). CEO Richard Fennell said the deals would save $65–75 million a year by FY2028 — roughly 10% of Bendigo's wage bill. Bendigo shares jumped 5% on the news. The bank spent $652M on its 4,762 FTE employees last financial year. [Australian Financial Review]
- April 2026188 technology positions impacted in the first wave — 26% of Bendigo Bank's technology workforce. 155 employees will be transferred to Infosys by August 2026, and 33 jobs will be made redundant. 80 of these 188 roles sit at Bendigo Bank's CBD-based headquarters (8% of the bank's 1,000-strong local workforce). Affected roles are predominantly software engineers, senior software engineers and engineering managers. FSU disputed the cuts citing inadequate consultation, with potential escalation to the Fair Work Commission. [Bendigo Advertiser]
- April 2026FSU estimates total job losses across the bank could run into the hundreds — some reports suggesting up to 1,000 positions over the full program. Beyond technology (first wave), affected areas include business and agribusiness, lending assessment and fulfillment, third-party banking fulfillment, lending operations, customer processing, wealth operations, customer remediation, mortgage help, operational excellence, finance, financial crime operations, and contact centre functions. [Finance Sector Union]
- April 2026FSU National Secretary Julia Angrisano: 'The race to the bottom has well and truly started in Australia when it comes to AI adoption. The idea of Bendigo Bank being a community bank is now dead.' [Finance Sector Union]
- Late 2025Bendigo inked a multi-year agreement to use Google Cloud and Google AI. Combined with the April 2026 Infosys and Genpact deals, three global tech giants now sit inside Bendigo's technology stack and back office. [Australian Financial Review]
All facts sourced from public reporting. No editorial commentary. Click source links to verify.
Layoff Events
| Date | Headcount | Location | Department | Notes |
|---|---|---|---|---|
| 9 Apr 2026 | 188 | Australia | technology | 188 technology roles impacted (26% of tech workforce). 155 transferred to Infosys by August 2026; 33 made redundant. 80 in Bendigo city HQ (8% of HQ workforce). Roles: software engineers, senior software engineers, engineering managers. |
| 1 Oct 2025 | 158 | Australia | technology | Bendigo Bank cut 145 jobs in technology division and 13 in mortgage help. FSU said workers were being blindsided and jobs were being offshored. 637 technology workers affected by restructure. |
Consultancy Engagements
| Vendor | Type | Contract Value | Status |
|---|---|---|---|
| Infosys | Managed Services | — 7-year IT service delivery agreement signed April 9 2026 (announced via ASX). Infosys to provide "significantly improved IT service delivery capability ... enhanced capabilities, software engineering and AI talent." Projected $65–75M annual savings by FY2028 (~10% of Bendigo wage bill). | Confirmed |
| Genpact | BPO | — 6-year agreement (announced April 2026) for process optimisation. Part of Bendigo's productivity program targeting $65–75M annual savings by FY2028. | Confirmed |
Other Banking Companies That Offshore
Other companies in banking with reported offshore operations.
| Company | ASX | Reported Offshore | Offshore Destinations |
|---|---|---|---|
| ANZ | ANZ | 14,300+ | 🇵🇭 Philippines🇮🇳 India |
| Commonwealth Bank | CBA | 10,000+ | 🇮🇳 India |
| NAB | NAB | 7,347+ | 🇮🇳 India🇻🇳 Vietnam🇵🇭 Philippines |
| Westpac Banking Corporation | WBC | 2,000+ | 🇵🇭 Philippines🇮🇳 India |
| Macquarie | MQG | 1,800+ | 🇵🇭 Philippines |
What Public Sources Say
All information below is sourced from publicly available documents and reporting. Excerpts are direct quotes. Click source links to verify.
“188 technology positions impacted in first wave — 26% of Bendigo Bank tech workforce. 155 transferred to Infosys by August 2026, 33 made redundant. 80 of these 188 are in Bendigo HQ city — 8% of the 1,000-person headquarters workforce. Most affected are software engineers, senior software engineers, and engineering managers. FSU disputes the cuts citing inadequate consultation. FSU NS Julia Angrisano: "Bendigo Bank has all but admitted that its so-called productivity program is really a slash-and-burn program."”
“Bendigo & Adelaide Bank signed a 7-year IT service delivery deal with Infosys and a 6-year professional services / digital transformation deal with Genpact. CEO Richard Fennell said the bank "will lead these changes with care and respect." Previous restructure late 2025 affected 637 technology workers. Workforce changes will impact technology and business operations teams; design and consultation still pending.”
“Bendigo and Adelaide Bank will use Indian giant Infosys for IT services, software engineering and AI tools for the next seven years, and American IT company Genpact for process optimisation for six years. CEO Richard Fennell said the deals will save $65–75M per year by FY2028 — roughly 10% of Bendigo's wages bill. Bendigo already inked a multi-year Google Cloud/AI deal in late 2025. Headcount cuts not yet disclosed; the bank said it wanted to brief staff first. Job cuts will come in technology and business operations.”
“FSU National Secretary Julia Angrisano: "The race to the bottom has well and truly started in Australia when it comes to AI adoption. The idea of Bendigo Bank being a community bank is now dead." FSU estimates hundreds of roles affected, with reports of up to 1,000 positions across technology, business and agribusiness, lending, wealth, customer processing, financial crime, and contact centres.”
“Bendigo Bank cut 145 jobs in technology division and 13 in mortgage help. FSU said workers were being blindsided and jobs were being offshored. 637 technology workers affected by restructure.”
Additional Sources
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This profile is based on publicly available information at the time of publication. It may not reflect current operations and should not be treated as a complete picture. We publish what we can verify — not everything that exists.
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