ANZ to shift 400 jobs offshore

In another attempt to boost profits, ANZ has resorted to shifting its operations offshore to India.

In a move publicly denied by ANZ, but confirmed within sources in the bank, jobs will go from Australia.

This brings an average saving to the bank of approximately 1/5th or even 1/10th of the cost of an Australian employee. There is NO savings to the customer by the cheap / unskilled labour offered by the developing nations.

Globalisation / Outsourcing are terms coined by the multinational corporations, and propagated as a benefit to society, whereas in real terms it means LARGE profits for the corporations concerned.

The sacking of a $50,000 Australian employee to be replaced by a $5,000 (outsourced) unskilled worker from a developing nation, whilst the cost for their services to the end customer is NOT reduced is ONLY of benefit to the multinational / firm concerned.

Globalisation / Outsourcing is supported by the Law Makers / Politicians around the World as is reaps LARGE profits for the exploiters, and is another form of LEGAL slavery, which was abolished in the US of A many moons ago.