11 August 2026
This pay offer is not a done deal. CBA can do better
You would have seen late last week that CBA finally put forward their…
The FSU has been notified that HSBC will close its retail banking business over the next 18 months. This is part of HSBC’s strategic review, which includes the sale of its Australian home loan and personal loan portfolio, with the sale and transfer expected to be completed in the first half of 2027.
The closure is expected to affect about 150 HSBC employees, including significant redundancies to both frontline staff and functions that support the retail business. The earliest staff impacts are expected in October 2026.
We understand this is distressing news for those impacted. You do have rights throughout this process, including minimum notice and redundancy entitlements in the event that your role is made redundant. Please rest assured that our union is here to support you, and we will do everything possible to ensure you receive your correct entitlements.
A consultation process is now underway, and we encourage you to use this opportunity to ask questions or raise any concerns with management.
If you require individual support or assistance from the FSU, please reply to this email and we will be in touch.
If you're not yet a member of the FSU, please join today to ensure you receive any expert assistance or representation you may need. We also encourage you to access the HSBC Employee Assistance Program if you need additional support during this difficult time.
You would have seen late last week that CBA finally put forward their…
Last week, Westpac announced its revised targets for home lenders, after FSU members…
Following pressure from FSU members and union representations, NAB has backed down on…
