ANZ National bank has been criticised for sacking workers it had promised to redeploy.
In April last year, the bank announced it would move 400 jobs to India, but said staff in New Zealand would be moved elsewhere in the company rather than made redundant.
Figures obtained by Radio New Zealand show that 378 jobs had been moved to India by the end of January, but just 58 New Zealand staff were given new jobs.
The bank workers' union, Finsec, says ANZ National failed to carry out a proper voluntary redundancy process or offer suitable retraining.
Finsec says that in the present climate big banks should not be allowed to sack workers.
It is circulating a petition asking that the Government makes retention of existing bank staff a condition of its deposit guarantee schemes.
Finsec spokesperson Andrew Campbell says banks are being underwritten by the taxpayer and need to display a sense of social responsibility.
Mr Campbell says banks are continuing to cut jobs despite combined profits of more than$2.5 billion a year.