Media releases

Last week AMP posted strong underlying profits for 2024, up 15% to $236 million. 
Impacted jobs include ten customer service roles and six specialist home loan roles.

When the FSU asked AMP if it was seeking cheaper labour costs by sending Australian jobs offshore, AMP replied “correct”.

AMP also told the union that affected workers could apply for five new roles.

It has prompted the union to renew calls for AMP to negotiate an Enterprise Agreement with its workforce.

“This is a terrible outcome for AMP workers and their families, and for AMP customers,” FSU National Assistant Secretary Nicole McPherson said.

“These roles are in customer service as well as help AMP customers with their home loan. Once these jobs go offshore, when AMP customers call for assistance, they won’t be speaking to someone in Australia.

“AMP needs to explain to its workers and customers why a company that can post hundreds of millions in profit can outsource and move 20 jobs offshore in the same week.”

Last year, AMP’s Enterprise Agreement expired and it refused to enter into negotiations for a new agreement. The FSU is campaigning with AMP workers to bargain for a new EA.

In June last year, AMP announced they would halve the cap on redundancy pay without consultation, effective January 2025.

“Without an Enterprise Agreement, AMP’s non-executive workforce does not have the ability to negotiate their own pay and conditions.

“Staff working conditions could continue to deteriorate without the protection of an Enterprise Agreement.  

“There is nothing stopping AMP from continuing to strip down workers’ conditions.

“AMP’s CEO boasts of their commitment to “simplification and cost reduction” which in the absence of employee protections is ominous for its workers.

“We have serious concerns for what they will strip away next.”

Media contact: Rebecca Nicholson – 0409 216 053