Westpac reversal over offshore jobs a ‘win for common sense’
Westpac has reversed its decision to offshore 16 jobs to the Philippines, the Financial Sector Union (FSU) has announced.
The FSU recently called on the bank to reconsider the decision after staff in the personal banking service centre were notified they would lose their jobs.
FSU national assistant, Nathan Rees, said the reversal was a “win for common sense” as the bank was unable to legal account for foreign exchange transactions going into the Philippines, raising customer data protection issues.
“If Westpac has learned anything from its current problems it is to realise the importance of getting its core business right, instead of continually seeking cost cuts,” Rees said.
“It made no sense to push these loyal Westpac workers out the door and onto the unemployment queue.
“Westpac has thousands staff who will continue to work together to maintain the bank’s operations and service delivery to customers while the upper echelon sorts out its problems and a new chair and chief executive are found.”
FSU noted that it would continue to be concerned about Westpac’s management given the Austrac scandal.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
