Bendigo and Adelaide Bank has confirmed that a new round of operational changes linked to outsourcing agreements with global firms will lead to workforce reductions across its technology and business operations divisions.
Chief executive Richard Fennell said that decisions affecting employees are “never easy” and acknowledged that the changes would create a challenging period for staff. He emphasised that the bank is committed to handling the transition with compassion, care, and respect.
He added that consultations will be held with affected employees and that support measures will be provided throughout the process, with the wellbeing of staff remaining a key priority during the restructuring.
The bank also confirmed that the changes are part of its broader “Productivity Program,” which includes major partnerships with global firms such as Infosys and Genpact to modernise its technology systems and business operations.
As part of the plan, Infosys will deliver a seven-year technology services agreement, while Genpact will manage certain business operations over six years. The bank said these arrangements are intended to simplify systems, improve efficiency, and enable reinvestment in new capabilities.
In addition to workforce impacts, Bendigo and Adelaide Bank will also close 10 branches across three states, leaving some regional communities without nearby banking services.
The restructuring forms part of the bank’s long-term strategy through to 2030, with the organisation aiming to streamline operations while adapting to changing industry demands and expanding its digital capabilities.
