FINANCE SECTOR UNION RESPONSE TO START OF NAB PROGRAM AXING 6000 JOBS

The Finance Sector Union of Australia (FSU) is concerned that the National Australia Bank’s program to axe 6000 jobs does not meet community expectations.

If NAB is serious about supporting its employees, it will commit to the ongoing reskilling and retraining of staff to equip them for the jobs of the future.

Australians are watching the actions of our banks closely. Any bank that is serious about restoring its broader reputation has to demonstrate it treats its staff fairly and decently.

We call on NAB to take this opportunity to help rebuild its brand.

We remain prepared to work with NAB to improve the package available to NAB staff.

The Finance Sector Union of Australia will continue to advocate on behalf of our members to reduce the numbers of job losses.

Comments attributed to Julia Angrisano, FSU National Secretary:

“Our sector is the largest contributor to the national economy, and banking is an essential service for our communities.”

“The Government has no plan to deal with the accelerating impact of digitisation and automation over the next few years.”

“This is not just 6000 workers that will lose their jobs – it’s 6000 people that will have to go home and tell their families they no longer have work.”

“Many of these workers have been at NAB for years and they are the reason for NAB’s billion dollar profits year on year. NAB is axing 6000 roles while creating 2000 new technology roles, but there is no plan to reskill existing workers – they will be left behind.”

“It’s not like NAB is in trouble – they can afford to retrain their workers. They made $6.7 billion dollar profit last year.”

“Post retrenchment support is too little too late, workers need to be reskilled to move into the jobs of the future now.”

“Right now the FSU is building an industry plan that will guide a fair transition for workers to the jobs of the future.”

“It’s critical that Government and Industry put the workers first. Without workers there is no finance sector.”

/Public Release. The material in this public release comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length.