A NAB worker who spent three years training a colleague in India now fears their own role is at risk, amid a wider expansion of offshore banking jobs and growing concern over the impact of artificial intelligence on Australian office employment.
The employee said they had been expected to pass on years of knowledge to staff overseas despite worrying that the work would ultimately replace their position.
“I’ve spent three years training a NAB India colleague to do my role and now my job is at risk,” the worker said.
“We’re still expected to train NAB India staff and pass on everything we know, even though we’re worried about losing our own jobs. We’re handing over years of experience while trying to save our own careers.”
National Australia Bank has announced plans to cut up to 2,500 roles by the end of the current financial year, including as many as 1,500 before the end of 2026. At the same time, it is recruiting in India and Vietnam.
Job advertisements show NAB, ANZ and Commonwealth Bank are hiring for positions in cities across India. NAB employs more than 5,000 people in India and a further 2,000 in Vietnam, while ANZ has about 9,000 employees in India.
Commonwealth Bank reported almost 7,000 full-time-equivalent staff in India at June 30. More than 60 India-based jobs were advertised by the bank in the past month.
The financial incentive for moving work offshore can be substantial. A junior software engineer in Vietnam could cost NAB about 20,000 dollars a year, compared with 80,000 dollars or more for an equivalent Australian worker.
Offshoring reaches Australia’s professional workforce
Offshoring was once closely associated with manufacturing and the loss of blue-collar jobs. It is now increasingly affecting skilled roles in finance, technology and cybersecurity, after the pandemic demonstrated that many office-based tasks could be carried out remotely.
The shift is not confined to banking. Officeworks and Woolworths have also announced plans to move some Australian work overseas.
Wendy Streets, national president of the Finance Sector Union, said offshoring amounted to redundancy for Australian workers.
“When an Australian job goes overseas we all lose,” Ms Streets said.
“The remaining ‘onshore’ workforce is left to deal with job insecurity stress, extra workloads and bear the brunt of customer frustrations.”
She also criticised the conditions under which some overseas workers were employed, saying contracts could allow arbitrary dismissal or pay reductions.
“It’s not difficult to see why employers, including our richest banks, are seduced by such practices that have long been outlawed in Australia,” she said.
“Meanwhile, Australia’s economy is also left to deal with the fallout of another livelihood thrown on the scrapheap.”
University of Sydney international business professor Vikas Kumar said the consequences could extend beyond individual job losses, warning that Australia risked losing expertise as more work moved abroad.
“The concern is not simply that jobs are moving overseas. It is what Australia might miss out on if this trend continues,” Professor Kumar said.
“If more of this work moves offshore, Australia risks retaining the brands and customers, but gradually losing expertise needed to underpin long-term competitiveness.”
He said many of the roles being moved overseas were entry points for graduates and early-career professionals, where workers developed skills before progressing into senior leadership positions.
NAB’s overall headcount rose from about 33,000 full-time employees in 2022 to almost 42,000 in 2025, including the recruitment of 7,000 workers in India and Vietnam. The bank has nevertheless announced the planned job cuts.
Following news of the reductions, chief executive Andrew Irvine said he knew it would be a “difficult period” for colleagues affected.
Artificial intelligence adds to pressure on office jobs
Offshoring is taking place alongside rapid advances in artificial intelligence, which are allowing businesses to automate or support a growing range of analytical and administrative tasks.
Deloitte Access Economics has identified 82 occupations facing a heightened risk of weaker employment demand as AI takes on more work. The list includes bank workers, accountants, law clerks, secretaries, systems analysts, payroll clerks and graphic designers.
David Rumbens, a partner at Deloitte Access Economics, said AI had not yet produced a significant structural effect on Australian employment, but warned that its impact would be felt through the automation of particular tasks within jobs.
“Overall, white-collar workers are expected to experience the greatest disruption from AI implementation, with most clerical and administrative occupations involving tasks that are readily automatable with current AI solutions,” he said.
Mr Rumbens said the effect would not be uniform. Administrative and clerical roles were likely to face weaker demand, while occupations in which AI supported cognitive work could benefit from higher productivity, improved output and better service delivery.
A recent Victorian Government report identified manual and service-oriented occupations as less exposed to AI. It highlighted non-routine roles including ageing and disability carers and education aides, as well as skilled trades such as electricians and plumbers.
“Manual occupations are less exposed to AI due to their physical and service-oriented nature,” the report said.
