The Finance Sector Union (FSU) has condemned ANZ’s decision to cut jobs across multiple Suncorp Bank divisions, including Business Banking and Home Lending, warning the move appears to directly contradict the commitments made to workers and communities when the sale was approved.
ANZ has confirmed that 197 Suncorp Bank roles are being impacted, with 66 staff expected to lose their jobs. The majority of the impacted jobs are in Brisbane.
At the time the sale was approved, ANZ gave clear undertakings that for three years there would be no regional ANZ or Suncorp bank closures, no changes to the number of Suncorp branches in Queensland, and no net job losses across Australia as a result of the acquisition.
The Finance Sector Union says these cuts are an insult to those conditions and are a disgrace for workers who rely on secure jobs in the finance sector.
The union is concerned the cuts do not comply with its ANZ obligations. Workers and communities were promised stability and security, and that hasn’t happened.
Finance Sector Union National President Wendy Streets says ANZ’s actions represent a profound breach of trust.
The union has called on the Federal Government to intervene and ensure ANZ is held accountable for the commitments it made as part of the acquisition and says this is another example of CEO Nuno Matos being out of control.
Finance Sector Union National President Wendy Streets said:
“ANZ made big promises to secure approval for the Suncorp acquisition, including commitments to protect jobs and invest in Queensland.
“Now we are seeing workers pay the price. ANZ has said it is complying with its obligations however; we have not seen the evidence to support that claim.
“These are empty promises. ANZ told staff and communities they would be looked after. Instead, jobs are being cut.
“The government cannot allow a major bank to make binding promises to secure approval and then walk away from them.
“This situation is completely unacceptable. The government must step in and take control.”
Media contact: Kate Shuttleworth – 0447 418 726
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