(Reuters) -Australia’s Finance Sector Union said on Monday it was filing a dispute with the Fair Work Commission, seeking urgent intervention over ANZ Group’s plans to cut 3,500 jobs, citing inadequate consultation with affected workers. The Finance Sector Union, in a strongly worded statement, called the ANZ a bank in crisis that has left thousands […]
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Australia’s Finance Sector Union seeks intervention in ANZ’s plan to cut 3,500 jobs
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(Reuters) -Australia’s Finance Sector Union said on Monday it was filing a dispute with the Fair Work Commission, seeking urgent intervention over ANZ Group’s plans to cut 3,500 jobs, citing inadequate consultation with affected workers.
The Finance Sector Union, in a strongly worded statement, called the ANZ a bank in crisis that has left thousands of families in the “dark” while executives “protect their bonuses”.
“That’s why we’ve taken ANZ to the Fair Work Commission, because workers deserve honesty and certainty about their future,” the union said.
The union’s action follows ANZ’s announcement last week of a major restructure that will see nearly 3,500 jobs being laid off. ANZ said the move was aimed at simplifying operations and focusing on core priorities.
ANZ didn’t immediately respond to a Reuters request for comment.
Earlier in the day, ANZ, the smallest of Australia’s “Big Four” banks based on its market valuation, agreed to fork out A$240 million ($159.91 million), the Australian corporate regulator’s largest-ever penalties against a single entity, over systemic failures ranging from acting “unconscionably” in a government bond deal to charging dead customers.
($1 = 1.5008 Australian dollars)
(Reporting by Rajasik Mukherjee in Bengaluru; Editing by Rashmi Aich)