The height of hypocrisy – IFM urges action on falling wages while asking us to take a pay cut

Union members reject IFM’s proposal.

Negotiations with IFM Investors management have reached an impasse.  We are rejecting IFM’s proposal for us to take a cut in real wages.

IFM management’s refusal to improve their pay offer comes only days after IFM Chief Economist, Alex Joiner was featured in the mainstream media saying;

“The revised forecasts showed real wages falling to where they were in 2009, describing the situation as an “extraordinary setback” for the nation’s households.

He said it was hard to see how households, which make up 60 per cent of economic activity, would continue to spend given the decline in their real incomes.

“We won the war on the economic impact of COVID but I’m afraid we’re about to lose the peace,” he said. “It’s not just the Reserve Bank’s problem. The federal government has to come up with ways to make sure this situation doesn’t happen.” *

We call on IFM Investors to put their rhetoric into action and negotiate a fair wage increase that keeps up with inflation.

We are fighting for a 6% annual wage increase to account for the current cost of living pressures and inflation which is projected to peak around 7%. To date, IFM Investors have refused to from their “final” offer of 4.75% in 2022, 3.25% in 2023 and 3% in 2024.  This is not good enough.

When IFM asks us to vote on this offensive offer, we will be VOTING NO.

Let’s win a better pay deal together. Please share this message with your colleagues to spread the word. If you’re not already an FSU member you can join here.

Your IFM FSU reps


Authorised by Julia Angrisano, National Secretary