Genpact

Ahead of the AGM the FSU said "since the Bank announced its 2030 strategy last year almost 600 employees have been shown the door", that "more than 145 staff were forced to work under inferior conditions" after the Infosys deal, and that jobs continue to be offshored to Genpact. The union said the bank's commitments, which include seeking employee preferences, no transfers to Genpact on poor contract terms, and making blueprinting and knowledge transfer to overseas staff opt-in, "fall well short of the 10 job security demands". FSU National Assistant Secretary Nicole McPherson: "Bendigo Bank's so-called 2030 strategy has been nothing more than management hollowing out its local workforce."

Secondary coverage of the AFR report on ANZ's technology restructure. The same AFR article records the wider sector position: at Bendigo and Adelaide Bank, ongoing restructuring has affected about 600 jobs so far according to the Finance Sector Union, as chief executive Richard Fennell targets as much as $75 million in annual savings through multi-year partnerships with Infosys and Genpact. The Commonwealth Bank has more than doubled its Indian workforce in the past four years, cut 170 technology roles that week, and restructured about 1,000 roles during the year with about half that number departing the bank. NAB was preparing to hire more than 1,000 more staff in its Indian and Vietnamese offices after cutting more than 400 jobs locally.

The Australian Services Union said Bendigo and Adelaide Bank has proposed 137 redundancies as part of an ongoing restructure, sitting within 299 job changes across consumer lending and customer care, with Adelaide staff expected to bear more than half the losses. The bank said its plans were not yet final and that it was still exploring redeployment, and tied the changes to its outsourcing deals with Infosys and Genpact.

Bendigo Bank posted a $530 million profit for the 2026 financial year. The FSU says the headcount of Bendigo Bank staff has dropped 14% since the 2030 Strategy was announced last year, with 145 Bendigo Bank staff sent to work at Infosys and other positions eliminated or replaced with offshore labour via Genpact. FSU National Secretary Julia Angrisano: "Bendigo Bank's $530 million profit was only made possible by CEO Richard Fennell treating his staff and customers with complete disdain." A worker quoted as Luke said: "Everything's been ripped up and no one seems to know how anything works anymore."

NAB has 5000 workers in Gurugram and Bengaluru, India, and around 2000 in Hanoi and Ho Chi Minh City, Vietnam — 7000 total, ~18% of NAB's workforce. CEO Andrew Irvine visited the Indian operations over two days in March 2026 and a person inside the bank said NAB is open to hiring more than 1000 additional people across India and Vietnam. Added 100 staff in Vietnam in March and April 2026. CBA's India staff: 6788 as of June 30 (15% of total). ANZ: ~9000 in Bangalore and 2000 in Manila (28% of workforce). Westpac uses contractors Genpact and Concentrix. FSU national assistant secretary Nicole McPherson: "The notion that Australia lacks enough skilled workers, especially in technology and engineering, is laughable, given these are the exact types of jobs being targeted in sweeping job cuts." Bain Australia partner Nick Therkelsen: "The big tech companies are looking for top talent — and paying essentially American wages."

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.

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.

Offshoring of 70 positions involved service providers Genpact, Tata Consulting Services, and Concentrix.