Finance Sector Union reacts to Bank of Queensland job cuts

The Finance Sector Union of Australia (FSU) raised concerns with the Bank of Queensland about unpaid superannuation 18 months ago and while that issue was resolved, it is disappointing that the Bank failed to follow through and properly audit its payroll at the time.

FSU National Secretary Julia Angrisano said 750 workers at the Bank of Queensland had been under paid and deserved to have backpay credited to them, as soon as possible.

“We have been urging all the banks to review and audit their payrolls and we are not surprised that another bank has been underpaying workers,” Ms Angrisano said.

Ms Angrisano said the latest underpayments came after the Bank of Queensland failed to pay workers their correct base rates, overtime, penalty rates and full superannuation entitlements.

“The Bank of Queensland should have taken steps long before this to make sure they were paying staff properly,” she said.

“While we are prepared to work with our members and the Bank to make sure all underpayments are made good, it is not acceptable that staff are being forced to wait until March 2021 to have their correct pay reinstated.”

“This is wage theft and we are calling on the Bank of Queensland to accelerate the repayment program to pay affected employees immediately.”

Ms Angrisano said there was the potential for further underpayments to emerge at the Bank of Queensland.

“We accept that the Bank has serious problems with its payroll and we welcome the appointment of independent external auditors to advise on the extent of the underpayments.”

“All financial services companies have a responsibility pay workers their correct pay and entitlements and the FSU will be watching closely to make sure our members are paid properly.”

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