Bank of Queensland (BOQ) has revealed a $30 million technology partnership with CapGemini—and it’s not just about upgrading systems.
The gut punch: approximately 200 Australian jobs will disappear, many of them moving offshore to India under the banner of automation and AI, sparking fierce backlash from unions and raising serious questions about customer service impacts.
Unions: A Blindside Move That Betrays Trust
The Finance Sector Union (FSU) didn’t mince words. Staff were apparently caught off guard—briefed without warning—and told that half of certain critical teams are now at risk.
The union argues this isn’t just automation; it’s a betrayal of employees who thought their roles were secure. They’re calling it a “race to the bottom.”
Union officials also fear this won’t just hurt jobs—it may undermine service quality. As customer inquiries shift offshore, people worry BOQ is valuing automation over local support.
Context: BOQ Isn’t Alone—Industry Moves Mirror CBA & ANZ
BOQ’s strategy isn’t unique. Earlier this year, the Commonwealth Bank of Australia (CBA) tried a similar route and faced a strong backlash, resulting in a partial reversal of their job cuts.
ANZ has also experienced friction with its staff over automation changes. These cases suggest a broader pattern within Australian banking that’s raising concerns about long-term human capital strategies.
Speed vs Stability: The Broader Implications
BOQ casts the alliance with CapGemini and Microsoft as a bold bet—one meant to streamline operations, scale faster, and boost customer experience. But unions say the calculus ignores the human cost: job security, trust, and quality of service are being sacrificed for tech upgrades.
Moving forward, it will be telling to see whether BOQ balances tech adoption with ethical staffing decisions—or if pressured union deals become the norm.
Caught in the Crossfire
What makes this story hit harder isn’t just the job losses—it’s the stealth of how it happened. Staff found out suddenly and are now navigating a new reality where AI tools, intended to enhance productivity, feel like a threat to their livelihoods.
Customers may soon prefer prefabricated chatbot responses over local expertise, adding emotional weight to what might otherwise read as business as usual.