Bendigo Bank cuts 140 jobs in outsourcing push
- Bendigo and Adelaide Bank plans to cut about 140 jobs
- The union reports 137 redundancies across lending and customer care
- Cuts follow seven-year Infosys and six-year Genpact deals from April 2026
- The bank cited an offshore technology partnership as the driver
BENDIGO, AUSTRALIA — Bendigo and Adelaide Bank is preparing to cut approximately 140 jobs as it transfers operational functions to its outsourcing partners, with the Australian Services Union reporting 137 proposed redundancies across the bank’s Consumer Lending Operations and Customer Care divisions.
Adelaide-based staff are expected to account for more of the losses than employees at other locations, as the bank reviews operations following partnerships announced in April 2026.
Partnerships with Infosys and Genpact drive workforce restructure
Bendigo and Adelaide Bank, headquartered in Bendigo, Victoria, is one of Australia’s larger regional lenders, providing consumer lending, agribusiness, and third-party banking services across the country.
According to a report from ABC News, the Australian Services Union (ASU) said the 137 proposed redundancies form part of 299 total job changes, with the bank citing its partnership with an offshore technology company as the driver of the workforce changes.
“The bank has told us that as a partnership with an offshore technological company, that it’s making efficiencies through these redundancies. We’re yet to see what that means for whether or not these workers are going to be completely replaced by AI, but we’re extremely concerned that, in the name of technological advancement, hundreds of jobs are being cut,” said Ella Waters, SA-NT branch secretary at the Australian Services Union.
Deal terms and broader staff impact
Bendigo Bank signed a seven-year information technology (IT) service delivery deal with Infosys and a six-year deal with Genpact in April 2026, with both arrangements designed to deliver efficiencies across the bank’s technology and business operations.
The bank said the detailed design for affected areas remained to be finalised, and it did not confirm whether artificial intelligence (AI) would replace displaced workers, adding that it was committed to exploring redeployment opportunities for affected staff.
Finance Sector Union (FSU) national secretary Julia Angrisano said Australian banks were in a “race to the bottom” in their adoption of AI and use of offshoring arrangements.
The Bendigo restructure follows similar moves by National Australia Bank (NAB) and ANZ Banking Group in late 2025, as well as the Bank of Queensland, which offshored 200 contact centre roles to Capgemini in India following an AI outsourcing deal in August 2025.
For business process outsourcing (BPO) providers and buyers active in Australian financial services, the Bendigo Bank restructure confirms a sustained pattern of regional lenders using long-term managed services agreements with India-headquartered firms to reduce domestic headcount.
With affected areas still to be finalised, the scope of the Bendigo Bank changes may expand, making this a key moment to evaluate top BPO companies worldwide with established Australian financial services credentials.
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Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
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