Market Chatter: Australian Banks' Technology Systems Could Be Impacted By DXC Technology Staff Strike, AFR Reports

MT Newswires Live

Mar 30

The technology systems of Commonwealth Bank of Australia (ASX:CBA), Westpac Banking (ASX:WBC, NZE:WBC), and ANZ Group Holdings (ASX:ANZ, NZE:ANZ) could be at risk as up to 200 staff members at DXC Technology plan to go on strike from Tuesday and escalate to a 24-hour strike on Thursday, the Australian Financial Review (AFR) reported Monday.

The strike by software developers, security analysts, technical consultants, and infrastructure specialists after unsuccessful negotiations for a pay increase is expected to cause disruptions to system upgrades and project delivery, among others, per the report.

DXC Technology provides network, information technology system, and cybersecurity services, for the banks.

Commonwealth Bank, Westpac, and ANZ did not immediately respond to an emailed request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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