31 October 2014

ANZ needs to look after its workers after another super profit

The ANZ bank needs to acknowledge the super profits it makes are coming at the expense of its workers, the Green Party said today.

Australia and New Zealand Banking Group Limited (ANZ) 2014 full year results show a lift in performance for ANZ New Zealand, with a cash profit of NZ$1.68 billion, up from $1.43 billion in the previous year. According to Green Party research this could be one of the biggest net profits for ANZ since 2004, if not the biggest.

“ANZ Bank is raking in the profits while its workers face low pay rises and insecure working conditions,” Green Party industrial relations spokesperson Denise Roche said today.

“ANZ’s profits come about partly through the hard work and dedication of those who work for it. ANZ workers deserve a bigger slice of the profit this hard work generates.

“It’s ANZ’s contact centre workers that help the bank achieve its record profits not just those at the top.

“While ANZ fights to keep salary increases at around the level of inflation their CEO earns $4.1 million a year.

“ANZ needs to recognise that continually rewarding those at the top while ignoring the concerns of the vast majority of its workers is a recipe for disaster.

“Now is the time for ANZ to show its workers that it values their efforts. ANZ’s workers are human beings not just resources.

“ANZ’s moves towards casualisation means workers would only know month by month which days, and which start and finish times they will be working.

“At a time of super-profits, casualisation and tiny pay increases for workers is simply unacceptable.
“The solution to low wages and insecure work is reasonable employers and employment negotiations, strong unions and good industrial law.

“Unfortunately the current National Government is attacking both,” said Ms Roche.

ENDS

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