The Finance Sector Union vowed to fight for the 5000 jobs that are at risk following St George shareholders approval of the Westpac takeover, creating Australia’s first mega bank.
 
Bank workers including Branch Managers, Customer Service Officers, Mortgage Officers and IT staff from Bank SA and St George made their voice against the takeover heard at today’s Extraordinary General Meeting.
 
Leon Carter, National Secretary Finance Sector Union, said this is a dark day for St George bank workers and bank customers.
 
“The popular voice from the floor of the shareholders meeting today was overwhelmingly against the takeover. Mum and Dad shareholders, bank workers and retirees all spoke passionately about the need to keep St George bank as Australia’s strong, independent and fifth largest bank.
 
But in the end faceless institutional share holders passed the vote, shutting the door firmly on competition in the Australian banking sector,” said Leon Carter.
 
The St George Chairman and board of Directors refused to give any guarantees about jobs or employment conditions despite numerous questions from bank workers.
 
“As night follows day, we know takeovers result in mass job losses. From today, the union will be watching each and every job in Westpac and St George and we will not let one person, one job, one role slip through the net.
 
We will hold Westpac accountable to the condition put upon this takeover by the Federal Treasurer. Three year guarantees on ATMs and branches, as well as having to sit down face to face with the union and talk about  employment conditions and jobs,” said Mr Carter.
 
The FSU estimate that out of the thousands of people employed in the bank’s back office functions, 5000 could be lost as duplicate roles in Westpac and St George are cut.
 
 
 
ENDS
 
Spokesperson: Leon Carter, National Secretary FSU 0409 946 597
Media: Gemma Swart 0414 873 291