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


Surge in ANZ profits prompts call for better work conditions

May 1, 2014

Huge surge in ANZ profits prompts calls for better working conditions

A huge surge in profits at New Zealand's biggest bank has prompted calls for a decent wage increase and less stressful working conditions for the staff who helped generate this revenue.

Statutory profit at ANZ’s New Zealand operations rose 31 percent to $853 million in the first six months to 31 March 2014.

“This week has seen increased debate over inequality around CEO salaries. Not only are banks repatriating big profits back to Sydney and Melbourne they, more than many companies, have massive disparity between worker and CEO pay,” said Robert Reid, General Secretary, FIRST Union.

"Bank profits are at record levels, but the untold story behind those profits is an intensification of pressure and stress on bank workers through aggressive sales targets."

“ANZ New Zealand CEO David Hisco’s remuneration is over $4 million. While the shareholders and those at the top of the bank are doing well, workers at ANZ continue to report unrealistic targets and work stress to their union.”

"In a couple of months ANZ and FIRST Union are meeting for employment negotiations. Workers at the bank are absolutely committed to improve the stressful conditions many of them work under, " Robert Reid said.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news