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Oz bank to offshore 400 IT jobs to India

Oz bank to offshore 400 IT jobs to India
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First Published: Thu, Jul 10 2008. 11 49 AM IST
Updated: Thu, Jul 10 2008. 11 49 AM IST
PTI
Melbourne: National Australia Bank is expected to send 400 information technology jobs to India by the end of the year.
The bank has shortlisted technology companies Infosys and Oracle to develop its billion-dollar, next-generation platform, which will form the key pillar in the bank’s technology transformation plan, dubbed Program NEOS.
NAB chief information officer Michelle Tredenick told technology staff this week that it was ramping up its offshoring initiatives as part of Program NEOS, in an email quoted by ‘The Australian´ daily.
The “ITO wave one” program was announced in March. About 264 technology jobs were earmarked for transfer to technology outsourcers Satyam and Infosys by October.
The bank started the second round of its IT outsourcing program, “ITO wave two”, and over the next six to eight weeks would examine offshoring of up to 148 jobs from its technology and wealth management divisions.
About half of them are full-time jobs, with the rest being contractual.The review will target Melbourne-based teams overseeing business and retail payments, Siebel finance and accounts services, and wealth management’s Sydney-based mainframe team.
As part of the first wave, 100 positions were sent to India where between 10 and 15 staff have accepted redundancies and another 30% have requested voluntary redundancy.
NAB spokeswoman Kerrina Lawrence said that the majority of staff affected by the outsourcing arrangements had been redeployed to other divisions.
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First Published: Thu, Jul 10 2008. 11 49 AM IST
More Topics: Offshore | Oz bank | jobs | India | IT |