Don’t send CBA jobs overseas

CBA CEO, Matt Comyn

We are calling on Commonwealth Bank (CBA) CEO, Matt Comyn, to guarantee the jobs of the thousands of CBA staff across Australia and come clean about CBA's offshoring agenda.

The CBA is one of the most profitable companies in Australia. In 2021, the CBA made an eye watering $9.6B profit and has already posted $2.5B profit in the first quarter of financial year 2022. Yet since 2021, CBA has announced the offshoring of almost 550 Australian jobs to its overseas subsidiary, CBA India. Meanwhile, Westpac announced the return of more than 1000 jobs back to Australia.

CBA's alarming trend of offshoring Australian jobs

Despite their massive profits, the CBA has made a deliberate choice to send the jobs of skilled Australians overseas. To date, CBA has offshored 100 Technology jobs, 270 jobs in Financial Crime and Regulatory Control Operations and 117 roles in the Payment Services Utility Department. These critical roles perform important services for the CBA's customers including fraud transaction monitoring and the handling of deceased estates.

The risk of further jobs being sent overseas cannot be understated. CBA is actively recruiting for more positions in risk management, payments, technology solutions, program design and data at its facility in Bangalore, India.

The risk to our data security

We have seen data security breaches occurring at Optus and Medibank, which released the personal data of thousands of Australians. As more banking functions are sent overseas, not only should employees be questioning whether their jobs are safe, but current and former CBA customers should also be asking whether their data is safe.

Time for action

CBA employees, customers and community members should all be concerned by the CBA’s relentless pursuit of further profit at the expense of Australian jobs.

Show your support by signing our open letter to CBA CEO Matt Comyn.
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To: CBA CEO, Matt Comyn
From: [Your Name]

Dear Matt,

In recent years the CBA has announced the offshoring of almost 500 Australian jobs to its overseas subsidiary, CBA India, with further recruitment ongoing as more banking functions are being sent overseas.

The move to send banking functions and the jobs of skilled Australians overseas comes despite CBA making super profits, and while other banks are bringing jobs back into Australia.

I am greatly concerned by the CBA's apparent offshoring agenda. As one of the most profitable companies in Australia and one that trades off of its ‘Australian-ness’ it appears that this is just a relentless pursuit of further profit at the expense of Australian jobs.

I am calling on you to be transparent about the CBA's offshoring agenda and guarantee the jobs of the thousands of skilled CBA staff across Australia.

Yours sincerely,