Media releases

The interim survey results paint a picture of a workforce under extreme stress and uncertainty following CEO Nuno Matos’s reckless decision to axe thousands of jobs. 

Workers describe chaos, exhaustion and fear as they wait to learn if they will keep their jobs, with 80 per cent of workers saying they feel nervous or on edge nearly every day.

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

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

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

Over 80 percent (81 per cent) said communication from executives hadn’t been transparent or timely and almost half (49 per cent) of those surveyed said they didn’t feel safe to raise concerns without fear of consequences.

The FSU said the ANZ’s pursuit of record profits had left a trail of harm and was further evidence cutting jobs is completely unjustified.

The union has commenced a dispute with ANZ regarding significant workplace health and safety concerns that have stemmed from these job cuts and how it’s been handled.  

Finance Sector Union National President Wendy Streets said:

“While the bank congratulates itself for raking in $5.7 billion, thousands of its employees are living with anxiety, burnout and dread.

“We’re hearing from people who can’t sleep, who’ve developed panic attacks, and who dread going to work.

“ANZ’s profits are up, but so is the human cost. The bank has a culture of uncertainty so severe it’s making people sick.”

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,” one worker said.

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

“No worker should have to choose between their mental health and their job and yet that’s exactly what ANZ’s 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, [email protected]