Bumper ANZ profits mean no excuse for insecure hours

A big rise in profits at New Zealand's largest bank needs to be reflected in a better pay offer and more security around hours of work, the bank workers’ union said today.

Statutory profit at ANZ’s New Zealand operations rose nearly 25 percent to $1.71 billion, up from $1.37 billion last year.

Some 1,300 ANZ workers, members of FIRST Union, are currently in negotiations with the bank over a renewed employment agreement.

“We note CEO David Hisco’s comment that this extraordinary profit “has been driven off the back of a highly engaged workforce,” said Maxine Gay, Retail & Finance Secretary, FIRST Union.

“That highly engaged workforce deserves a better deal than a pay offer which is well below what other major banks have settled on this year.”
Contact centre and back office workers employed prior to September 2010 are being offered a 2% + 2% wage increase over two years. For everyone else it is offering 3% and 2.75%.

Just five months ago Westpac workers achieved a 3.4% per year increase for two years, Maxine Gay said.

Maxine Gay said that the bank’s comment that they have been a strong supporter of the broader community was totally at odds with its proposals which would see some workers only knowing month by month which days, start and finish times they would be working.

“Bank staff have lives outside of their job, and many of them are deeply involved with their local community, faith and sports groups.”
“How on earth then could they ever meet their commitments to these groups, if they don’t know from month to month what days and times they’ll be free to volunteer at their local cultural centre, church fundraising committee or coach the kids’ sports team.”

“Chopping and changing the hours of your workforce is not supporting the broader community.”

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