The Finance Sector Union (FSU) is calling on MyState to face up to staff and shareholders at today’s AGM and explain why it continues to treat its workers with contempt.
In June, 80 per cent of MyState staff voted down a proposed Enterprise Agreement, sending a clear message that the offer on the table was unacceptable.
Workers overwhelmingly rejected the offer because it contained a pitiful pay rise and failed to deliver improvements that workers were seeking around workplace flexibility, paid parental leave, and staffing and workloads protections.
Rather than taking the rejection seriously, the bank retaliated by dragging out negotiations and eventually presented workers with a worse offer than the one that had been rejected – proposing to cut long service leave entitlements, redundancy payments and personal leave.
The bank continues to claim it has a limited ‘bucket of money’ despite recording a $41 million profit in the last financial year and has found merger savings of approximately $25 million.
The profit result makes clear that MyState has the capacity to provide a fair pay rise and improve its offer without cutting conditions but has chosen to ignore the workforce and prioritise shareholders and executives.
The union says the approach shows contempt for workers who have continued to deliver for customers and communities, particularly through periods of organisational change and economic uncertainty.
The AGM is an opportunity for the bank’s leadership to account for its actions and commit to a fair approach.
Finance Sector Union National Secretary Julia Angrisano said:
“MyState is treating its staff with contempt by responding to workers’ No vote with a raft of cuts to terms and conditions rather than trying to reach a genuine resolution.
“It is outrageous for the bank to cry poor while raking in more than $41 million in profit. There is money for executives and shareholders, but apparently not for the people who make the bank run every day.
“Redundancy, long service leave and personal leave are not bargaining chips. They are fundamental entitlements that protect workers and their families.
“At today’s AGM, MyState must front up and commit to good-faith bargaining, respect its staff and stop the cuts.”
A MyState worker said:
“It is outrageous and shameful that MyState continues to disguise cuts to our conditions as so-called “trade-offs.
“To present an offer that is worse than one we’ve already voted down is not only disrespectful, it’s absurd.
“This approach shows a complete disregard for the voices of staff and the value of our contribution. We deserve better.”
Media contact: Kate Shuttleworth – 0447 418 726
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