Westpac needs to halt offshoring jobs: FSU

27 November 2019
| By Jassmyn |
image
image
expand image

The Finance Sector Union (FSU) has raised concerns about a Westpac proposal to offshore 16 jobs to the Philippines, amid the bank’s money laundering scandal.

The FSU national assistant secretary, Nathan Rees, said that thousands of Westpac workers performed their roles diligently, legally, and ethically every day and they were “deeply distressed by the allegations, and they are angry” that Westpac board and executive decisions were not reflective of community expectations.

“The offshoring raises serious concerns about quality of service, protection of customer data, and the obvious implications for Australian jobs. The bank has zero credibility on this issue,” Rees said.

“We are calling on Westpac to cease this proposal forthwith, and for it not to be resurrected in any way, shape or form.”

The FSU said the Westpac chair needed to intervene in the matter and halt the offshoring.

“The executive ranks of Westpac have a demonstrated inability to read the public mood, and the board is ultimately responsible for the prevailing culture and strategy in Westpac,” Rees said.

“Lindsay Maxsted must send a strong message that reputation matters more than short-term cost cutting.”

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

1 day 3 hours ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

2 months ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

2 months 1 week ago

SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positiv...

3 weeks 4 days ago

Original bidder Bain Capital, which saw its first offer rejected in December, has returned with a revised bid for Insignia Financial....

2 weeks 4 days ago

The FAAA has secured CSLR-related documents under the FOI process, after an extended four-month wait, which show little analysis was done on how the scheme’s cost would a...

2 weeks 1 day ago

TOP PERFORMING FUNDS