The Finance Sector Union (FSU) says ANZ is a bank in crisis, fined $240 million by ASIC for its misconduct, bungling its handling of 3,500 jobs cuts, leaving thousands of workers in limbo and now facing action in the Fair Work Commission for failing to properly consult staff.
Last week, ANZ announced 3,500 jobs cuts. Workers found out via the media, first thing in the morning, as they were making breakfast or commuting to work that their jobs were on the line.
Since then, thousands of workers had a weekend of uncertainty not knowing if they still had a job, with many facing questions from family and friends and not having answers.
Today, the FSU is lodging a dispute with the Fair Work Commission, calling for urgent intervention, so workers can get the clarity they deserve after it found ANZ’s response to consultation requirements under the enterprise agreement woeful.
The FSU will be meeting with workers this week to support them through the consultation process.
Finance Sector Union National Secretary Julia Angrisano:
“ANZ is a bank in crisis — fined $240 million by ASIC for its misconduct, and now betraying 3,500 workers with bungled job cuts and secrecy. Thousands of families are left in the dark while executives protect their bonuses.
“ANZ has learned nothing from its record fine. Workers are once again paying the price. Loyal staff are being thrown on the scrapheap without clarity or respect. That’s why we’ve taken ANZ to the Fair Work Commission, because workers deserve honesty and certainty about their future.
“ANZ calls this a restructure, but to workers it feels like chaos. Families are left in limbo, staff are blindsided, and whole communities will feel the impact when thousands of secure jobs disappear.”
“ANZ can find $240 million to pay for unconscionable conduct, yet it’s cutting 3,500 staff. It shows a bank that is completely unhinged, workers and customers are the ones paying the price for executive failure.
“This record penalty makes clear ANZ’s leadership failed in its duty to customers, but instead of executives taking responsibility, it’s frontline staff whose jobs are being sacrificed.
“Three banks have slashed jobs in less than a week and now ANZ has been hit with the largest penalty in Australian banking history. It paints a picture of an industry that’s out of control and desperately needs stronger regulation.
“Workers are already reeling from ANZ’s cuts. This penalty underlines the need for Federal intervention — banks cannot be allowed to treat customers with contempt and gut their workforce at the same time.”
Media contact: Kate Shuttleworth 0447418726, [email protected]
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