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Australia’s Largest Company Commonwealth Bank Under Fire After Axing Hundreds Of Locals To Send Jobs To India

Author Admin Estimated read time 3 min read



Amid AI-fueled mass layoffs across the globe, the West is paranoid about jobs being offshored to cheap labor in countries like India. In the latest, Australia’s biggest and richest bank, Commonwealth Bank of Australia (CBA), is drawing flak for advertising jobs that are identical to the ones made redundant. Per the Finance Sector Union (FSU), the Bengaluru-based Indian subsidiary of the bank is recruiting technical staff with at least 110 jobs identical to the ones cut this year, besides 304 jobs in June, 163 in May, and 164 in March.

FSA stated its intention to drag the CBA to the Fair Work Commission over the issue, remarking

By hiring for the same job at their own Indian subsidiary, they’re showing themselves to have breached the Enterprise Agreement and essentially lied to their workers.”

Per reports, Indian staff at the bank increased from 2,854 in 2022 to 5,630 in 2024, while axing 2,581 locals during the same period.

FSU states,

“These jobs are not required to be done in India; they’re just moving the work there to take advantage of cheaper labor and further line their own pockets.”

See Also: Over 100 Applications For $130k Butcher Job In Australia; ‘All From India, Pak And Bangladesh’ The Owner Complains

Reactions poured in with users slamming larger corporations opting to cut down on costs with offshoring the work. One user online quipped, “This is a centuries’old playbook. Every Central Bank-controlled country is living through the same reality.” Another commented, “This bullshit has to stop.” A third user wrote, “Intel is doing the same in Dublin. Replacing their Irish staff with Indians, in Ireland!” Yet another user remarked, “Everyone thought AI will replace employees. But, Indians replaced them instead.”

See Also: Microsoft Casually Lays Off Several From Its Legal Team Amid Push For AI; Internet Jibes ‘Time To Learn Carpentry’

See Also: Intel Axes 107 Engineers Across Several Departments; To Layoff Over 10,000 Factory Workers Soon





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