Employees in Australia’s finance sector have condemned announcements by major banks Westpac and ANZ that will see 250 Aussie jobs sent offshore to be filled by cheap overseas labour.

After public comments by Westpac CEO Gail Kelly last week that the bank was considering lifting the off-shoring ban the bank imposed in 2009, the bank has advised 100 employees that their roles will be sent off-shore to India.

At the same time ANZ employees have been advised that 150 jobs are in scope for off-shoring over coming months, with those roles likely to be shipped to the Philippines.

Delegates from across the finance sector are currently meeting at the FSU National Conference and have adopted an urgency motion condemning the actions of Westpac and ANZ, and have committed to campaigning to reject off-shoring and call on Australian banks to commit to invest in the future jobs and skills needs of the industry.

“Finance workers are sick of living on the knife-edge when it comes to job security and the future of the industry,” said FSU National Secretary Leon Carter.

“The facts are clear; the more money employees make for our big banks the more harshly they're treated by their employer. Whether it's ramped up sales targets or the threat of losing their jobs to cheaper labour overseas, bank executives are consumed with bottom line results with little regard for workers or bank customers.”

“Last year the big four banks raked in over $20 billion combined profit and are already reporting record half-yearly results. At what point is enough enough? At what point do they give back to the community they profit from? We say that time is now,” said Leon Carter.

“It's not good enough, and delegates at our National Conference, people who work in finance, are right to condemn employers for this move. We want our industry to be better, for finance workers and the customers they serve.”

“What is required is a long term plan for the future of jobs and skills for our industry; a plan that involves government, employers, and employees and their union,” said Leon Carter.