MLC Advice Restructure – Staff Shocked by the Depth of the Cuts

On Tuesday we met with MLC Leaders to convey preliminary member feedback on the restructure proposal.

The key issues raised by FSU members include dismay that previous comments by Geoff Lloyd committing to Advice have translated into a proposal that abandons regional Australia, staff, and customers.

Information Shortfalls

FSU meetings across the country have been flooded with questions from employees about the new roles, salaries, selection processes and book values. Critical information for making major life decisions has not yet been provided.

You can review FSU correspondence to Tim Steel at

Workloads and Compliance

There is widespread concern that the proposed structure will result in unachievable workloads for the staff that are left behind. With heavy workloads come errors – and the implications for staff around compliance errors can be severe, including exclusion from the industry. It seems that the lessons from the Royal Commission may have already been forgotten.

Job Security

With fewer roles in fewer locations, retrenchments will be required — but the question on everyone’s lips is, why job swaps are not on the table. The Enterprise Agreement requires NAB to minimise forced retrenchments, and job swaps are the best way to meet that commitment.

FSU Reps will be meeting with NAB prior to the end of the consultation period; we will work through any changes to the proposal to mitigate its adverse effects.

Further updates will be issued as new information is available.

Join the FSU today.


Contact Details

Finance Sector Union
Ph: 1300 366 378

Authorised by Julia Angrisano, National Secretary