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


Westpac Staff Vote to Accept Offer

10 February 2006

Westpac Staff Vote to Accept Offer

At 1pm today 87% of staff who belong to the finance union, Finsec, who voted have voted to accept Westpac’s latest employment agreement offer.

(This is a provisional result, but remaining votes will not impact upon the vote outcome.) This vote draws to an end a three month long dispute between staff and the bank which included a full day strike on the last business day before Christmas.

Westpac and Finsec have now negotiated an employment offer that includes agreement to develop a new pay progression system that will not be based solely on meeting targets. The offer also includes the ability for a number of experienced staff to advance through the pay scale based on that experience. The proposed agreement will run for 16 months, instead of the earlier proposal of 18 months and will include a 5.2% pay offer.

The union’s Campaign Director, Karen Skinner, says members are pleased that the new offer also allows them to talk to the bank about sales targets, how they are enforced and the impact that they are having on staff.

“A lot of employees at Westpac feel they give good customer service and are loyal workers, but were not moving through the pay scale because they could not reach their sales targets. Now hopefully we have an opportunity to solve that.”

“If the bank follows through on its commitment to developing a fairer pay progression scale that rewards service rather than just sales customers and communities will benefit. That’s why it’s important we keep the campaign around targets alive, not just in this bank but across the finance sector.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>