Media releases

Only one month ago BoQ announced 400 job losses and a decision to acquire more than 100 franchised branches as part of a major restructure. A year ago, 220 roles were cut allegedly for simplification of its operations.

FSU National Assistant Secretary Jason Hall said:

“Bank of Queensland has been cutting staff significantly for over a year- this week they must commit to investing in their people, and the important customer service they provide, rather than continuing to cut.

“Job cuts impact morale and the ability of staff to help customers. It is a false economy to cut back on the people who the bank needs to serve the customers they need to stay with the bank and attract new ones to help it continue to grow.

“BoQ needs to commit to ensuring that all of its branches, including those it buys back from franchisees, are maintained and not closed. Only last week we were advised by BoQ that the Geraldton Branch, currently a corporate branch, will close in January 2025 adding to 7 branches closed since 2023. That’s 7 communities who have lost their BoQ point of presence and the hard working staff who looked after them.

“The Bank sought to stop franchisees speaking to the media when they announced they were buying back their business, yet the FSU is not banned from speaking and will continue to speak up for staff. Our members are looking for stability this week as they seek to continue to deliver for BoQ customers- we urge the Bank to deliver that.”

Branches closed by Bank of Queensland since 2023

Mt Pleasant, QLD – July 2024
Hillarys, WA – March 2024
Belmont, WA – March 2024
Preston, VIC – July 2023
Fremantle, WA – June 2023
Upper Mt Gravatt, QLD – March 2023
Cronulla, NSW- March 2023

Media contact: David Imber- 0413 274 204

NB FSU stands for the Finance Sector Union NOT the Financial Services Union