Decent Pay and Job Security - Commbank CAN but WON’T
Thursday, 16 August 2012
Yesterday CBA reported a record annual profit of $7.1 billion making it the 4th most profitable bank in the world. But what was hidden in the footnotes of the profit announcement was the 1,200 full time positions that CBA slashed during the year.
CBA profits are up 11%, shareholder dividends are up 5% and share value has increased by about 14%. But CBA say they won’t share this success with their employees and are quietly cutting jobs throughout the business.
Visit www.commbankwont.com.au and send a message to CBA that they can afford decent pay and job security.
With a record $7.1 billion profit announced yesterday it is clear that CBA CAN provide decent pay and job security for the people that do the hard work but they WON’T. CBA broke off negotiations with the union around pay and job security a week before the profit announcement and have clearly headed down a path towards low-paid, insecure work across the Group.
There is now a very clear difference between the FSU and CBA senior management about the future of work at the bank.
Work in the CBA Group should be secure and well paid. We have to work together to reject the view that the Group’s future prosperity will be based on low paid, insecure work.
Support the FSU to bring CBA back to the negotiating table to get a fair deal for CBA Group workers. Go to www.commbankwont.com.au and send a message to CBA that they can afford decent pay and job security.
Authorised By: Leon Carter, National Secretary