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ANZ National staff to strike for a fair deal

For immediate release
12 August 2008
ANZ National staff to strike for a fair deal for customers

Union members in the ANZ National Bank have voted to take strike action to achieve an offer in their collective agreement negotiations that will deliver better banking services for customers of the billion dollar bank.

Bank staff have been attempting to negotiate fairer sales targets, better staffing levels and real wage increases that recognise the skills and value they bring to the bank. The claims form part of an industry agenda promoted by bank staff to make New Zealand banks fairer and better.

Staff are set to take strike action on Friday August 22 and prior to that Finsec members will be running a public campaign in order to achieve a better outcome.

“ANZ National is letting down their customers as well as their staff. Our claims for fairer sales targets, increased staffing levels and a real wage increase would deliver a better deal for New Zealanders,” said ANZ National staff representative Cathie Lendrum.

“The bank can afford a better deal. The difference between their pay offer and what workers are seeking equates to around half of CEO Graham Hodges’ pay or 0.18% of the bank’s after tax profit for the first 6 months of this financial year,” said Finsec Campaigns Director Andrew Campbell.

“ANZ National is putting returning as much profit as possible to Australia ahead of investing in the business locally. Not content with saving millions by sending hundreds of jobs to India it is now refusing to improve the local business through these negotiations,” said Lendrum.

“ANZ National is treating New Zealand as a cash cow. We would like to see the bank invest in the business locally to benefit customers and provide a just wage increase to help staff through these tough economic times,” said Lendrum.

Key financial information about ANZ National
ANZ National profit 2007 - $1.168 billion
ANZ National half year profit 2008 - $692 million, up 9% on the same period in the previous year.
CEO salary package - The ANZ Annual Report 2007 shows that bank CEO Graham Hodges receives a total remuneration package of $2,533,384.


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