Bank to shift Queensland jobs offshore

June 24, 2008

The personal loan details from hundreds of thousands of National Australia Bank's Queensland customers are heading offshore to India as the bank prepares to axe more than 120 jobs at its Coorparoo lending centre.

Although NAB staff have rejected the bank's offer to train the foreign workers who will eventually take their jobs, the bank will push ahead with its plan next month.

The Finance Sector Union (FSU) is outraged at the move, predicting thousands of back office banking jobs will go offshore to India in the next two years.

Michael Clifford, the executive secretary of the FSU in Queensland said the union was horrified at plans by the banking industry in Queensland and was concerned at privacy issues involving the loan information.

He singled out the NAB's latest move as a sign of things to come across the sector.....

"Well, he might want Australia to become the financial hub, but we don't want Australia to simply become the shopfront as they outsource our jobs," Mr Clifford said.....