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The bank has announced impending modifications that will result in workforce adjustments, particularly affecting employees within its technology and business operations departments. Although discussions have not yet commenced, the full extent of the job impacts remains uncertain.
Richard Fennell, the Chief Executive, acknowledged the difficulty of making decisions that affect employees.
“Making decisions that have repercussions for our staff is never straightforward,” Fennell remarked. “We understand that this period will be challenging for our team, and we are dedicated to approaching these changes with empathy, consideration, and respect.”
He emphasized, “We will engage with the employees who are affected by these developments, ensuring they have access to the necessary support.”
“The wellbeing and health of our bank’s workforce remain at the forefront during the planning and execution of these crucial workplace transitions,” added Fennell.
The workforce changes come as the bank announced the next phase of its “Productivity Program”, including two major partnerships with Infosys and Genpact aimed at overhauling its technology and business operations.
Under the plan, Infosys will take on a seven-year technology services agreement. At the same time, Genpact will manage aspects of business operations over six years – moves the bank said would streamline processes and lift efficiency.
Fennell explained that tapping into global expertise would allow the bank to simplify its systems and reinvest in new capabilities.
“By leveraging global expertise and becoming simpler and more efficient, we can reinvest in new technologies and capabilities,” he said.
Bendigo Bank serves around 2.9 million customers across Australia, with the restructure forming part of its broader strategy through to 2030.
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