rose lane

Big banks are pouring billions into their sprawling Indian operations. The objective of business is to make a profit, deliver services & remain competitive. Shareholders expect returns & customers expect efficient, affordable services. And when it becomes too expensive, too difficult or too restrictive to operate competitively, businesses inevitably look for alternatives. Offshoring is one of those alternatives. And to a large degree, Australians have brought this on themselves. Harsh? Perhaps. But we cannot continually demand higher wages, more benefits, greater regulation & more obligations on business without recognising that all of these come at a cost. I’m not suggesting banks should be beyond criticism, particularly given their substantial profits. Nor am I dismissing the consequences for Australian workers. But we cannot ignore commercial realities simply because we don’t like the outcomes. There is a price to making Australia an increasingly expensive place to do business. And sometimes that price is Australian jobs. afr.com/companies/financial-…