The Finance Sector Union is greatly concerned over reports that Westpac is planning to cut five per cent of its workforce across the board, on top of hundreds of job cuts in the last year.
The union has not been consulted on any such proposal and has called for any plans for a five per cent staff cut across the board to be shelved and immediate talks to be held.
The FSU has this morning reached out to Westpac to seek an urgent explanation and confirmation on exactly what its plans are.
Westpac has already unleashed almost 1000 job cuts made over the past year, the most recent being 160 roles in the Tech and Business Wealth Division, and 190 roles were from its Mortgage Operations, Westpac Institutional Banking and Customer Solutions.
Quotes attributed to Finance Sector Union (FSU) National President Wendy Streets
“FSU members and Westpac employees have faced ongoing uncertainty and significant job losses over the past few years with more job cuts now under a new ‘business-led simplification program’ – UNITE.
“As the new CEO, Anthony Miller had an opportunity to invest in his existing, dedicated workforce. He appears to be choosing not to do so.
“This is deeply disappointing, particularly as Westpac posted a net profit of $7 billion just last year.
“Our members have worked hard to turn massive profits for Westpac over the years, they deserve to be rewarded and not have their jobs brutally cut for the sake of cost-savings and even bigger profits.”
Media contact: Rebecca Nicholson – 0409 216 053
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