In the latest negotiations for our new Enterprise Agreement, the bank chose not to respect those same staff who “worked hard” and delivered great results for customers. Even after this massive profit, TMBL management refuse to support a fair pay increase for the staff who made it happen.
The bank rejected our union’s claim for a revised annual pay rise of 3% or CPI, whichever is greater. They insisted their 2.5% offer is final, and the board will not approve any movement on this offer. Does this sound fair to you?
Our initial claim was for a 3.5% annual wage increase, while TMBL came to the table with a measly offer of just 1%. Your FSU seeks your urgent feedback on these latest developments.
TMBL Management and Board refused to reveal their own salary and fee increases.
TMBL repeated the need to be open and transparent. However – they initially refused to reveal what percentage increase in salary executive managers will get. We have now been told they will have a pool set aside of 2.5%.
The bank continues to keep secret the percentage increase the Board of Directors is seeking.
The union had also requested a copy of TMBL’s draft 2021 Annual Report over a month ago. TMBL only agreed to share the draft report under a Non-Disclosure Agreement (NDA) which bizarrely would expire in 2026 – for information that hit the public domain last week! The FSU declined to sign the NDA.
Here’s how TMBL’s offer compares to some of their competitors:
TMBL is also aggressively pursuing their proposal on ceasing salary increases for employees who exceed the upper pay threshold for their role, as determined by market data. Instead, a lump sum payment will be given, if the proposal is accepted.