Bendigo Bank is joining the “tidal wave” of financial institutions cutting jobs, with 145 roles feared to be affected by a restructure. 

The Finance Sector Union said the roles will affect employees within the technology division, with customers to pay the price.

“Across the sector, workers are being asked to do more with less while fearing for their jobs,” Finance Sector Union national secretary Julia Angrisano said.

“Bendigo’s five-year strategy appears to be nothing more than a roadmap for job destruction.

“Workers and customers deserve better.”

Bendigo Bank recently posted a $514.6 million yearly profit, down by 8.4 per cent from the previous year.

A spokesperson said the bank is continuing to review the business to invest in innovation and meet evolving customer expectations.

“To preserve its ability to continue delivering on its purpose for all stakeholders, the Bank continues to explore ways of working that will improve productivity and deliver better customer experiences,” a Bendigo Bank spokesperson said.

“The Bank reviews all parts of the business regularly and continues to prioritise investment in innovation that supports our business and meets the evolving expectations of our 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.”

9news.com.au understands consultation with staff is ongoing as the bank changes its operating systems.

Bendigo Bank has joined other major banks that have announced job cuts in recent days.

ANZ will cut 3500 roles in the next year due to a broad restructure, NAB will cut 410 roles to establish more jobs in India and Vietnam, and Bank of Queensland will cut 200 jobs because of a new partnership with outsourcing giant Capgemini.

Commonwealth Bank of Australia confirmed it was cutting 164 jobs from its technology division in March.

Angrisano accused Bendigo Bank of following the same playbook as the big banks, despite marketing itself as a community bank.

“Workers are being blindsided, jobs are being offshored, and customers are left with poor service. They’re no different to ANZ, CBA or NAB,” she said.

“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.”