Yesterday ANZ began announcing to staff within Australian Operations and Commercial Banking that they will be restructuring the business with the loss of up to 133 jobs.

ANZ have also advised that this is the first of a series of announcements regarding job losses that will occur in the first half of this year which will result in hundreds of jobs disappearing from its Australian workforce.

Whilst the FSU acknowledges that the market is slowing and the business environment is unpredictable, we do not agree with the banks decision to cut jobs as a way of reducing costs. In the tough environment of 2011, ANZ recorded a record profit of $5.3 billion and it seems ANZ will slash jobs to protect another record profit in 2012.

FSU calls on ANZ to find other ways to trim their budget and minimise the impact on their dedicated staff. 

If you are directly affected by these restructures, your ANZ Enterprise Agreement sets out your entitlements to Redeployment, Retrenchment and Redundancy provisions. In the event that you lose your job you are also entitled to access to the ANZ Training Fund which makes available up to $10,000 towards acquiring new skills to gain future employment.

If you need more information or assistance, please contact the Member Rights Centre on 1300 366 378.