Commbank CAN, but WON'T. New website launched

CBA has withdrawn from negotiations with FSU. This is despite:

• CBA announced a record profit on 15 August - $7.1 billion
• CBA has not offered a decent pay rise recognizing employees' efforts
• CBA has not provided proper job security with continuing cutbacks and outsourcing
• CBA spent an average of 46% more on executive pay in 2010/11 and 17% in 2011/12
• CBA didn’t even bother to ask for employee opinion on this offer
• Targets for many staff have increased by as much as 28% this year

FSU negotiators achieved a doubling of the bank’s first offer but still the bank ignored our members' rejection of their current offer.

CBA has incorrectly said FSU wouldn’t accept that the bank is in a challenging environment, what we said was that this environment doesn’t warrant a lower pay increase to hard working people.



CBA employees, who work in the most profitable bank in the country should have well paid, secure jobs, and should have the best conditions in the finance industry.

CBA employees work hard and we know that the bank is making huge profits. We want employees to get a fair share of those profits.

When we asked FSU members what they thought of the CBA offer of 0% -3.5% dependant on performance, they overwhelmingly rejected that offer.

We know that this isn’t just about an increase for this year. CBA wants to change expectations about the size of pay increases for the future. Their refusal to adjust the base rate for each grade reinforces the move to a low pay future and means that CBA will soon have the lowest base rates in the industry.

Together we need to stand up for what’s right and fight what’s wrong. It’s right to share the benefits of a successful year with staff by providing a decent pay rise and proper job security and it’s wrong for the bank to report a record profit but short change its employees.

We’ve created a handy little infographic which sets out some of the background about the profitability of CBA and how salaries compare for people covered by the Agreement. You can download it here. You can use this to start a conversation with your colleagues about a fair pay increase at CBA.

Click here to share this infographic with your colleagues and post a message in the forum on the FSU website.

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Your Rights At Work Blog: Commbank Can but Won’t