Australia’s ‘better bank’ is set to slash another 80 jobs, as it continues to scale back its homegrown operations as part of its ‘productivity program’.

Bendigo Bank has told workers that, in the coming months, functions from within three of the bank’s departments will be run by US tech giant Genpact.

The departments affected by the imminent restructure are Business and Agribusiness, Customer Enablement, and Financial Crime Risk.

According to the Financial Services Union, up to 80 employees could lose their jobs.

However, the bank insists that its Financial Crime Risk team will increase by 33 workers due to the restructure.

It is the latest round of offshoring since Bendigo Bank announced it was entering into two new strategic partnerships with global tech firms Genpact and Infosys.

According to an announcement by Bendigo in April, the six-year partnership with Genpact will ‘drive greater productivity’ by bringing ‘deep expertise in AI capabilities, process optimisation and data insights’.

On Thursday, a spokesperson for Bendigo Bank confirmed it was ‘reviewing business operations and processes as part of its ongoing Productivity Program’.

‘The process and operational improvements expected to be delivered will lead to workforce changes that will impact our people,’ the spokesperson said.

Bendigo Bank has announced restructuring in three of its departments

Bendigo Bank has told workers that, in the coming months, functions from within three of the bank’s departments will be run by US tech giant Genpact. (The bank’s HQ is pictured here)

According to the bank, key details of the restructuring are yet to be finalised; however, a phased process of ‘blueprinting, design and consultation’ will commence over the coming months.

A Bendigo spokesperson stated the bank would explore opportunities for redeployment ‘where possible’. 

‘The health and wellbeing of the bank’s people continue to be key considerations in the planning and implementation of these essential workplace changes,’ they added.

FSU National Secretary Julia Angrisano has called on the bank to commit to reskilling its workers so they can remain employed.

‘Banks don’t offshore or outsource to improve efficiency; they do it for profit,’ Ms Angrisano said on Thursday.

‘I am calling on Bendigo Bank to do the right thing and ensure that its remaining Australian workers are reskilled and redeployed to other areas of the bank,’ she said,

‘The bank also needs to hit pause on its agreement with Infosys and Genpact and look at new ways of streamlining the business that don’t involve outsourcing labour.’