The Rudd Government should set conditions on the support it provides to Australian banks following ANZ's announcement it was shifting 500 back-office jobs to India, a finance union said.
Finance Sector Union national secretary Leon Carter on Friday said it was disgraceful that ANZ announced the job cuts a day after new data showed unemployment in Australia had surged to its highest level in five years.
"It's an absolute disgrace that an Australian company as profitable as the ANZ is getting access to government guarantees and yet continues to send jobs overseas," Mr Carter told AAP.
"It's time the federal government put some conditions on the support they are giving to the finance sector.
"Kevin Rudd and Julia Gillard should say enough is enough - `we've given you the opportunity to do the right thing and clearly you are incapable of doing it'."
He said ANZ chief executive Mike Smith was pursuing an aggressive offshore agenda to beef up its 3000-strong workforce in Bangalore, India.
Mr Carter said the bank's customers are likely to be inconvenienced by the job cuts.
"It's a sham to say that because they are back office jobs customers won't notice it," Mr Carter said.
"These are the jobs that do the balancing, that make sure there is enough money in the branches."
Last December ANZ cut 800 jobs mainly from middle management.
AAP