Australia and New Zealand Banking Group Ltd. (ANZ.AX, ANZBY.PK, ANZ) is reportedly considering the elimination of up to 590 jobs in its call centers in Australia. The review is in progress and no decision has been reached yet.
The company may close its call centre in Mulgrave, Melbourne and these jobs may be shifted to the Philippines or New Zealand, affecting around 340 positions. Another 250 jobs at ANZ's South Melbourne office may also be eliminated.
The Philippines, where costs are less, is a favorite destination for companies globally to run their call center operations. In New Zealand, employee turnover is low and hence training expenses are also low. Further, office rents are also cheap in New Zealand.
ANZ.AX is currently losing nearly 3 percent at A$27.54.
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