Media releases

The Union has advised regulators that it holds serious concerns ANZ does not have appropriate processes to identify and control hazards, that the proposed control measures are inadequate, and that these measures have not been properly communicated to affected workers.

The correspondence follows public comments made by ANZ CEO Nuno Matos, who described cutting jobs as “tough” and claimed the bank was “working closely” with the FSU.

The FSU has made repeated calls to ANZ to extend the redeployment period of workers who are due to depart in mid-December until after Christmas and to address the serious impacts the proposed cutting of 3,500 jobs is having on workers.

A recent survey of ANZ workers by the FSU exposed soaring stress, anxiety and physical health impacts among staff hit by the job cuts.

Over 60 per cent of the 200 workers surveyed said they were experiencing symptoms of stress, including headaches, stomach pain and muscle tension.

Nearly half, 45 per cent, say the pressure at work had had a negative impact on their family or personal relationships.

Another 81 per cent said communication from executives hadn’t been transparent or timely and almost half (49 per cent) said they didn’t feel safe to raise concerns without fear of consequences.

One in three workers at ANZ learnt their jobs were being cut through the media or on social media and many still don’t know if they will be affected.

Finance Sector Union National President Wendy Streets said: 

“Nuno claims he wants a constructive relationship with the union, but he’s done nothing to make it easier for workers who are about to lose their jobs.

“Nuno publicly described his decision to cut jobs as ‘tough’. He seems to have zero interest in just how ‘tough’ his chaotic choices are for ANZ workers.

“He’s refused to delay redundancies for employees who face an exit in December, refused to provide clarity on the outstanding job cuts and isn’t showing even a basic level of compassion for people under enormous stress ahead of Christmas.

“We now have a very clear picture of just how much workers are suffering and it’s bleak.

“People are distressed as they face uncertainty as they’re being forced out at the most stressful time of the year. It’s appalling treatment from a bank that continues to post multi-billion dollar profits.”

Anonymous testimonies from workers expose the depth of the crisis: 

“Everything is chaos, roles are changing weekly, workloads are huge and no one knows who will still have a job next month.”

“Any care or concern for my wellbeing hasn’t been considered at all, not even a text or an email to ask if I’m okay.”

“No worker should have to choose between their mental health and their job and yet that’s exactly what ANZ staff are facing.”

“ANZ can afford to do better. It can afford to treat people with dignity. Instead, it’s chosen silence, fear and burnout as a business model.” 

Media contact: Kate Shuttleworth – 0447 418 726 or [email protected]