ANZ Bank To Shed 360 Technology Jobs In CapGemini Deal
06/04/2012| 03:41am US/Eastern
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By Caroline Henshaw
SYDNEY--Australia & New Zealand Banking Group Ltd. (>> Australia and New Zealand Banking Group) on Monday said it plans to shed 360 back-office jobs by 2013 as part of a transfer deal with managed-services provider CapGemini.
The technology staff--110 from its Melbourne office and 250 in Bangalore--will be offered "comparable roles" with "comparable entitlements" by CapGemini, the lender said in a statement.
ANZ expects to start rolling out the plan by the middle of the year, with all transfers to be completed by the beginning of 2013. Spokesman Stephen Ries said the 360 were in addition to the 1,000 Australian job cuts announced earlier this year.
He said the move was "no precursor to additional layoffs" and that the employees would be guaranteed jobs for at least two years by CapGemini.
Write to Caroline Henshaw at caroline.henshaw@dowjones.com
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