Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Is this the end of WestpacTrust as we know it?

Friday, May 25, 2001

For immediate release
Is this the end of WestpacTrust as we know it?

"Jobs will disappear in the longer term because of the new company that WestpacTrust and the Warehouse have set up," said Gordon Webley of Finsec the union for bank and insurance workers.

"The company's initial business is to sell credit and insurance. However, we see it as a staged process to shift the bank's operation onto a different footing.

"The longer term plan seems to be to extend hours of work, take away the protection of a union and a collective agreement and increase workloads.

"WestpactTrust's back office and retail staff will suddenly find themselves working for two masters – the bank and the new joint-owned company with which they have no employment agreement.

"WestpacTrust was not forthcoming with Finsec members at the last negotiations when we asked them about their future plans," said Mr Webley. "Our members will see this as a serious breach of good faith.

"Although 28 back-office staff will be employed to help with a potential 1.5 million more customers, that will certainly not be enough.

"Existing staff are already under enormous pressure from their jobs, as are WestpacTrust retail staff.

"Retail staff – who are in the firing line between frustrated customers and management – will initially be involved in giving out 200,000 pin numbers on top of their existing workload. There seem to be no plans to provide them with relief.

"As well many of the Warehouse’s customers will be drawn into a net of debt from which they will find no escape.

"We will be talking with members to find out how they feel about this threat to their health and their jobs," said Mr Webley.


© Scoop Media

Business Headlines | Sci-Tech Headlines


ScoopPro: Helping The Education Sector Get More Out Of Scoop

The ScoopPro professional license includes a suite of useful information tools for professional users of Scoop including some specifically for those in the education sector to make your Scoop experience better. More>>

Big Tax Bill Due: Destiny Church Charities Deregistered

The independent Charities Registration Board has decided to remove Destiny International Trust and Te Hahi o Nga Matamua Holdings Limited from the Charities Register on 20 December 2017 because of the charities’ persistent failure to meet their annual return obligations. More>>

57 Million Users' Data: Uber Breach "Utterly Preventatable"

Cybersecurity leader Centrify says the Uber data breach of 57 million customer and driver records - which the ride-hailing company hid for more than a year - was “utterly preventable”. More>>

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Having A Cow? Dairy Product Prices Slide For Fourth Straight Auction

Dairy product prices fell at the Global Dairy Trade auction, retreating for the fourth straight auction amid signs of increased production... Whole milk powder fell 2.7 percent to US$2,778 a tonne. More>>


Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>


Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>


  • Bill Bennett on Tech