Westpac Drops Outsourcing Plans to India
The Australia-based Westpac Banking Corporation has dropped its decision to offshore about 300 administrative jobs to India from its Concord West-based transactions and unsecured lending operations center. The center processes dishonored checks, electronic payrolls, Internet banking, and deceased estates. According to a statement by Westpac, the offshoring proposal did not meet their financial and stakeholder criteria.
The bank also reported that offshoring would not save as much as estimated earlier. The outsourcing plan would have affected about one-third of the center’s 1,000 member staff. The Finance Sector Union of Australia had earlier stated that about 50,000 jobs of the industry’s 280,000 jobs could be offshored.
Take the marketing executive in Manhattan, who works with the statistical researcher in Moscow to analyze the behaviors of customer in London. She directs manufacturing in Shanghai to modify production based on the findings – all using the information systems constantly being improved by software engineers in Bangalore.... Call it partnering, teaming, cooperation, or collaboration – just don’t call it outsourcing. Global teamwork is more like it.
Surgen General's Disclimar
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