Workers and customers will be looking for answers to key questions on issues from artificial intelligence (AI) to offshoring and abandoning regional communities, at this week’s Commonwealth Bank (CBA) Annual General meeting.
The breadth of these issues highlights the extent to which the Bank has strayed from its purpose “to improve the financial wellbeing of our customers and communities”.
FSU National Assistant Secretary Jason Hall said:
“Australia’s largest bank has been walking away from its historic commitments to Australian workers and communities – this week’s AGM provides the chance for the Bank to reset and regain its social licence. We have the following questions we’re seeking answers on this week:
- What are CBA’s plans in regards to AI, which is being introduced by CBA without notice or consultation with workers? Why isn’t CBA committed to sharing the productivity benefits with the people who are helping introduce these benefits?
- Will CBA commit to reinvesting in its Australian workforce? Australian workforce numbers have flatlined after a 4% reduction from 2022 to 2023, while CBA India’s workforce increased by another 19% this past financial year, on top of the previous 65% increase from 2022 to 2023.
- How can CBA claim to have a purpose to improve the financial wellbeing of communities it is abandoning? Will CBA commit to ensuring that local communities have access to local branches? The closure of face-to-face services continues in metropolitan areas, and we’ve seen the complete closure of Bankwest branches in WA this past year. Those employees remaining in branches are dealing with increased workloads and insufficient staffing.
- Will CBA recognise that its return to office mandate is not only unpopular but counterproductive to lifting productivity? Will it commit to working with its staff on fair arrangements for work?
- What is CBA doing to address the 30% gender pay gap? CBA has one of the worst gender pay gaps in corporate Australia and as the largest bank should be removing the barriers to the full and equal participation of women in the workforce. What is it doing to ensure next year’s result is an improvement and on a pathway to a zero gender pay gap?
- Will CBA apologise and commit to never again thieving from its people? CBA was hit with the largest ever fine handed to an employer for wage theft of $10.3 million in February, and again pleaded guilty to underpaying long service leave entitlements in Victoria – when will it guarantee workers this won’t happen again.”
Media contact: David Imber 0413 274 204
NB FSU stands for the Finance Sector Union NOT the Financial Services Union
