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Jobs to be impacted at Bendigo Bank as ‘workforce changes’ flagged

Jobs at Bendigo Bank are at risk after the lender confirmed a new round of operational changes tied to outsourcing deals with global firms.

The bank said the changes "will lead to workforce changes" affecting employees across its technology and business operations teams, with consultation yet to begin and the full scope of job impacts still unclear.

Chief executive Richard Fennell said decisions that impact staff are "never easy".

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Bendigo Bank will shut down 10 branches across three states, leaving five regional communities without any financial services.

"Decisions that impact our people are never easy. We acknowledge this will be a challenging time for our people and we are committed to leading these changes with compassion, care and respect," Fennell said.

"We will consult with our people impacted by these changes, and we are committed to ensuring the support they need is available.

"The health and wellbeing of the Bank's people continue to be key considerations in the planning and implementation of these essential workplace changes."

The workforce changes come as the bank announced the next phase of its "Productivity Program", including two major partnerships with Infosys and Genpact aimed at overhauling its technology and business operations.

Under the plan, Infosys will take on a seven-year technology services agreement. At the same time, Genpact will manage aspects of business operations over six years – moves the bank said would streamline processes and lift efficiency.

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Bendigo Bank becomes latest to slash jobs with 145 roles feared affected

Fennell explained that tapping into global expertise would allow the bank to simplify its systems and reinvest in new capabilities.

"By leveraging global expertise and becoming simpler and more efficient, we can reinvest in new technologies and capabilities," he said.

Bendigo Bank serves around 2.9 million customers across Australia, with the restructure forming part of its broader strategy through to 2030.

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