Infosys

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.

New Zealand coverage of ANZ's technology restructure, first reported by the Australian Financial Review (Jack Derwin, 25 September 2026). ANZ told New Zealand staff it was cutting into its 1,500 permanent IT roles, opening a two-week consultation with changes to be finalised in early October. More than 400 roles are affected and more than 100 workers are expected to be made redundant as ANZ consolidates software testing under a single strategic partner. Quality assurance engineers, lead engineers, product owners and project managers are among the roles under threat. A source not authorised to speak publicly said the bank had been deep in discussions with Indian IT firms Infosys and HCLTech. New Zealand's Workers First Union said the final number of redundancies could rise as hundreds of staff were moved into markedly different roles. 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." The restructure follows ANZ confirming the closure of a 60-person call centre in Dunedin; it employs about 8,000 people in New Zealand. Chief executive Nuno Matos had completed about 3,000 of his 3,500 announced job cuts as at 30 June. ANZ has expanded its operations and technology hubs in India and the Philippines to 11,500 employees, almost 30 per cent of its total workforce.

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."

HBF confirmed it is moving to a "hybrid" model that will see its IT team supported by tech giant Infosys' staff on the east coast and overseas, including India.

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 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.

Telstra divested a controlling 75% stake in its services arm Versent Group and ceded control of roughly 650 ICT service specialists to Infosys.

Infosys acquires 75% of Versent Group (Telstra subsidiary) for $233.3M; Telstra retains 25% minority. 650 Australian engineers, advisors and strategists move under Infosys operational control. Deal closes H2 FY2026. Combines Versent, Telstra Purple Digital and Epicon capabilities with Infosys Topaz (AI), Cobalt (cloud) and The Missing Link (cybersecurity).

Infosys completed acquisition of Australian award-winning cybersecurity services specialist The Missing Link (announced April 17 2025). Continues pattern of Indian IT majors acquiring Australian services firms.

442 roles will be eliminated and the work outsourced to Indian IT services provider Infosys.

Infosys BPM provides services to Rio Tinto.

NSW government sealed $215M deal with Infosys and Unisys to take over ServiceFirst. 30% of work (~80 jobs) sent offshore. 70:30 onshore/offshore split. 254 staff affected, only 112 opted for redeployment.

Rio Tinto signed a global outsourcing deal with IBM affecting up to 800 back office employees. Deal could span a decade and be worth up to $100 million. Work divided between IBM operations in India, Europe and South America. Rio Tinto also outsourced application development to Infosys, and was looking to farm out considerably more work to Infosys and TCS.

Infosys BPO signed a definitive agreement to acquire Portland Group Pty Ltd, an Australian strategic sourcing and category management services provider with several large ASX 200 organizations as clients.