Media release: FIRST Union
Thursday October 25, 2012

ANZ Profits Further Grounds For No Staffing Reductions

Staffing and service levels at ANZ must be consolidated and improved, following its substantial profit announcement today, the bank workers’ union said.

ANZ’s New Zealand division today announced profit of $1.265 billion, up from $1.085 billion in the previous year.

“ANZ’s big profits are further grounds for there to be no reductions in branch numbers, service to customers or staffing following the closure of the National Bank,” said Andrew Casidy, Finance Secretary, FIRST Union.

“ANZ made commitments last month that staff wouldn’t be losing their jobs as National Bank operations are folded into ANZ. We will be closely monitoring this, after previous assurances of no redundancies following offshoring jobs to India saw jobs losses anyway.”

Andrew Casidy said Australian banks often made much of their investment in New Zealand, and statements today from ANZ NZ CEO David Hisco were no different.

“This is often made out as though it a generous, somehow charitable contribution to New Zealand society.”

“The fact of the matter is that banks choose to do business in New Zealand, and part of that decision is the employment, taxation, marketing and other expenses associated with their operations.”

“But ANZ still happily repatriates over a billion dollars in profit back to Australia in the same breath,” Andrew Casidy said.

Sam Huggard
Campaigns Officer
FIRST Union

www.firstunion.org.nz

ENDS

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