Jobs to be impacted at Bendigo Bank as 'workforce changes' flagged

Jobs at Bendigo Bank are at risk after the lender confirmed a new round of operational changes tied to outsourcing deals with global firms.

The bank said the changes "will lead to workforce changes" affecting employees across its technology and business operations teams, with consultation yet to begin and the full scope of job impacts still unclear.

Chief executive Richard Fennell said decisions that impact staff are "never easy".

READ MORE: 'We're talking about a few days': Experts send dire fuel crisis warning

"Decisions that impact our people are never easy. We acknowledge this will be a challenging time for our people and we are committed to leading these changes with compassion, care and respect," Fennell said.

"We will consult with our people impacted by these changes, and we are committed to ensuring the support they need is available.

"The health and wellbeing of the Bank's people continue to be key considerations in the planning and implementation of these essential workplace changes."

The workforce changes come as the bank announced the next phase of its "Productivity Program", including two major partnerships with Infosys and Genpact aimed at overhauling its technology and business operations.

Under the plan, Infosys will take on a seven-year technology services agreement. At the same time, Genpact will manage aspects of business operations over six years – moves the bank said would streamline processes and lift efficiency.

FOLLOW LIVE: Iran closes Strait of Hormuz again, threatening ceasefire

READ MORE: This couple spent their $50k house deposit on an ex-ambulance van

Fennell explained that tapping into global expertise would allow the bank to simplify its systems and reinvest in new capabilities.

"By leveraging global expertise and becoming simpler and more efficient, we can reinvest in new technologies and capabilities," he said.

Bendigo Bank serves around 2.9 million customers across Australia, with the restructure forming part of its broader strategy through to 2030.

NEVER MISS A STORY: Get your breaking news and exclusive stories first by following us across all platforms.

• Download the 9NEWS App here via Apple and Google Play
• Make 9News your preferred source on Google by ticking this box here
• Sign up to our breaking newsletter here