Profit ‘should save ANZ jobs’, as Optus cuts 750


Profit ‘should save ANZ jobs’, as Optus cuts 750

The bank workers union is hoping ANZ’s half-yearly profit of $2.93b will overturn planned job cuts at the bank.


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The bank workers union is hoping ANZ’s half-yearly profit of $2.93b will overturn planned job cuts at the bank.

Finance Sector Union national director Wendy Streets said ANZ should abandon plans to cut jobs in light of today’s announcement of a 10% increase in net profit.

‘Today’s announcement provides the bank with an opportunity to reverse a deeply unpopular decision,’ Streets said.
‘ANZ can afford to keep every single job currently on its books.’
In February, the bank announced it would slash 1000 jobs from its Australian operations. So far, 400 jobs have been cut.

‘600 should keep jobs’
‘Today’s profit announcement should mean that the remaining 600 employees in the firing line get to keep their jobs,’ Streets said.

‘This bank is not a struggling small business. It is a business that increases its profit every year.’

‘They make that profit from ANZ bank customers within our community, and the bank should give something back to the community in return.’

‘ANZ should invest in jobs and skills here in Australia. There are 600 ANZ employees walking around with a target on their back — the bank should keep all of these people in work and revise the number of jobs expected to be cut this year.’

Streets said ANZ should maintain and improve customer service by employing enough bank workers to meet the needs of customers.

‘Cutting jobs does not improve customer service,’ she said.
‘Offshoring jobs definitely doesn’t improve customer service.’

Optus restructure
Meanwhile, Optus, Australia’s second-biggest telco, said it will cut 750 jobs over coming months in a major restructure of its business designed to boost profitability.

The company said the job retrenchments — amounting to about one in twelve Optus jobs — will come ‘from senior and middle management as well as operations, back office and support functions.’

The cuts from Optus come after bigger rival Telstra said in December it would lop 280 jobs in Australia and send them offshore in order to boost productivity over the next three years. Telstra subsidiary Sensis also cut 110 jobs from its Yellow Pages sales team in January.

Two-thirds of the redundant Optus roles will be in Sydney ‘with the remainder in the ACT, Queensland, South Australia and Victoria,’ said a spokeswoman for the company.
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