FSU Report – Westpac and Wage Suppression

This Tuesday we wrote to Westpac CEO Peter King and the Board of Directors sharing a report that challenges management’s efforts to suppress the wages of the Bank’s hard-working staff with hundreds of our stories (read our letter here).

The report – which makes the case for wages rises across the finance sector more generally using analysis from the Centre for Future Work – includes hundreds of heart-breaking stories from Westpac staff whose wages are increasingly falling behind the cost of living.

Thousands of Westpac Group workers shared their personal stories and, when compared with management’s “market rates” rhetoric, the case they make for a fair wage increase is undeniable.

Read the full report here


Send this report far and wide and talk to your colleagues about it. We have management’s attention – this is a week where joining will send a powerful message of solidarity to Peter King and his colleagues.

What this means for our EA negotiations

It’s now brutally clear – the Bank’s initial offer of 3.5% or less is unacceptable. That would mean an effective wage cut, putting many of us in even worse financial hardship.

The Fix Starts with 6%

Westpac now has an opportunity to address the widening gap between increasing productivity and stagnant wages. It’s time for a real wage increase for all of us!

Support our campaign for a 6% increase that meets the cost of living. Sign FSU’s “The Fix Starts with 6%” petition today!

Your FSU Team

Authorised by Julia Angrisano, National Secretary