This year, some of Australia’s biggest and best known companies – Telstra, National Australia Bank (NAB), Officeworks and Woolworths – have decided to cut jobs locally, while creating more overseas. Those will mainly be in India, the Philippines and Vietnam.
Sending jobs offshore – also known as “offshoring” – is not new. For decades, companies have shifted call centres, routine processing and back office work offshore.
Now, firms are also increasingly moving other higher value roles overseas. These include technology development, artificial intelligence (AI), analytics, cybersecurity, finance, digital operations and even human relations.
These are not peripheral activities. They are the capabilities that help organisations innovate, solve problems and compete. Australian companies are not simply moving work offshore. They are globalising key parts of their corporate brain.
What’s been announced?
