FSU escalates job security concerns to Fair Work Commission
The Finance Sector Union (FSU) has strongly criticised a series of job cuts across Australia’s banking sector, including recent redundancies at Bendigo Bank and the Bank of Queensland.
The union argues that lenders are reducing staff numbers and offshoring roles while reporting strong profits, and that consultation with affected employees has been inadequate.
“This is not consultation, it’s box ticking, Bendigo and BOQ are profitable, yet loyal workers are being thrown on the scrapheap while executives pocket bonuses,” said Julia Angrisano (pictured top), national secretary at the Finance Sector Union.
“Three banks in less than a week have cut jobs – ANZ, NAB and now Bendigo. Add BOQ last week and it’s clear this is a tidal wave of cuts hitting workers across the sector.”
Bendigo Bank’s latest restructure will see 145 technology positions and 13 mortgage help roles made redundant, affecting a total of 637 staff in its technology division. The announcement follows the Bank of Queensland’s decision last week to cut 200 jobs and outsource half its contact centre to India.
Another Australian bank has slashed jobs as the sector reckons with enormous cost cutting measures across the board.https://t.co/NpA7QTZWHZ
— Sky News Australia (@SkyNewsAust) September 11, 2025
According to the FSU, Bendigo Bank’s five-year strategy to automate operations and “optimise” branches is resulting in reduced customer service, branch closures, and job insecurity. The union said staff in the technology division were given six days to respond to the proposed changes, while those in mortgage help had only two days to provide feedback.
The FSU has escalated the matter to the Fair Work Commission, claiming Bendigo Bank failed to provide sufficient information to workers and only offered a three-day extension to the consultation period.
“Bendigo and BOQ like to market themselves as different, but they’re following the same playbook as the big banks,” Angrisano said. “Workers are being blindsided, jobs are being offshored and customers are left with poor service. They’re no different to ANZ, CAB or NAB.
“Customers, once again, pay the price when experienced technology and mortgage help staff are lost, with longer wait times and reduced services, particularly at a time when lending will be more accessible to first home buyers.
“Across the sector, workers are being asked to do more with less while fearing for their jobs. Bendigo’s five-year strategy appears to be nothing more than a roadmap for job destruction. Workers and customers deserve better.”
A spokesperson for Bendigo Bank said they continue to review all parts of the business regularly and continues to prioritise investment in innovation that supports the business and meets the expectations of thier customers.
"Bendigo Bank remains committed to consulting with our people whenever changes are identified that will impact them and ensures those impacted have the support they need,” the spokesperson said.
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