Finance Sector Union (FSU) on Tuesday flagged that the Bank of Queensland (ASX:BOQ) is "accelerating" job cuts and offshoring plans ahead of its annual meet.

The union said the bank has arranged for the outsourcing of 48 roles in Financial Crime Operations to the French consulting firm CapGemini.

This comes in addition to 200 job losses previously related to outsourcing to CapGemini, along with plans for a further 550 roles to be outsourced, the union said.

"The latest cuts leave specialized compliance teams depleted and unsettled ahead of a critical AGM," the union commented.

According to a latest survey conducted by FSU, 65% of the bank's workers surveyed have considered leaving in the past 12 months, while 70% said the offshoring has heightened job security fears.

In its reply to MT Newswires' emailed request for comment, the bank referred to its August announcement, where it said it partnered with Capgemini and expects annualized cost savings of at least AU$30 million from fiscal 2027, with the consolidation of external service providers driving the majority of the expected benefits.

"Our transformation strategy is about simplifying and digitising our business," BOQ Group Chief Executive Patrick Allaway said in the Aug. 28 statement.