Sydney, July 9 : The National Australia Bank (NAB) has reportedly decided to outsource nearly 400 new jobs to India by the year-end.
On Monday the Bank commenced its second round of its IT outsourcing program - "ITO Wave Two", and over the next 6-8 weeks the Bank would examine off-shoring up to 148 jobs from its Technology Banking, Australia (TBA) and Technology MLC divisions.
The review will encompass TBA's three Melbourne-based teams overseeing business and retail payments, Siebel and accounts services, and MLC's Sydney-based mainframe team, reported The Australian.
In its first outsourcing program - "ITO Wave One" announced in March this year, about 264 technology jobs were earmarked for transfer to India-based software companies Satyam and Infosys by October. Nearly 100 jobs have already been outsourced to India.
NAB chief information officer Michelle Tredenick said that "ITO Wave Two" was a "logical extension" of the off-shoring work started by the Bank earlier in the year. "One of the ways we are transforming is by drawing on the capabilities and scale of global software service providers," the paper quoted Tredenick as writing an email to his technology staff.
"As we've indicated over the last few months we intend to progress our off-shoring activity, and earlier this year we expanded our use of offshoring partners (Satyam and Infosys). We are looking to draw on these experiences and progress investigations into further functions," she said.
Meanwhile, a banking union is not happy at the bank's decision to outsource jobs to India. Financial Services Union spokesman Rod Masson said he was disappointed to hear about the latest wave of offshoring at Australian banks. "In the long term it will be demonstrated to be a short-sighted decision when Australian organisations are completely reliant on overseas companies and workers to service their essential IT platforms, which is inevitably where we see this heading," Masson said.