This morning’s news that Westpac and St.George are in takeover talks is a rude awakening for employees and consumers alike.

A takeover, if allowed to proceed, would see thousands of jobs placed under threat as the new entity looks to leverage savings through eradicating duplication.

Ultimately cost savings are made by cutting staff, branch closures and rationalisation of back office services, despite the talk at the moment about maintaining two brands.

FSU opposes takeovers between Australia’s banks because history has shown us that the rationalisation of head office, back office, call centres, administrative functions, lending
functions and eventually branches is the inevitable outcome.

Takeovers are bad for customers too. The loss of competition and choice and the eventual cut backs to services is a poor deal for banking customers.

Our combined voices must be heard in this latest takeover debate. Your right to secure and rewarding employment must not be overlooked in the rush to pump up the bottom line.

Support your union in the fight for jobs and services!

What can I do?

• Join the union: call 1300 366 378 or register online
• Get more information from the Campaigns section.
• Join the FSU “No Takeovers” group and register your concern at our online forum.
• Invite a workmate to join the union and get involved.