Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Wealthy banks can better support staff

Wealthy banks can better support staff

Big profits at New Zealand’s banks show they have ample room in coming weeks to improve pay and bring in less stressful working conditions, the bank workers’ union said today.

KPMG’s annual Financial Institutions Performance Survey, out today, shows net profit after tax in 2013 at New Zealand registered banks rose from $3.7 Billion to $4.0 Billion – an 8.61 per cent increase.

“Bank profits are sky high, but the intensification of pressure and stress on workers within the industry is at an all time high also,” said Maxine Gay, Retail & Finance Secretary at FIRST Union.

A survey of women in banks released in November found that many are experiencing high levels of stress as a result of the industry’s aggressive sales targets regime, she said. Not reaching targets can result in performance management plans, disciplinary hearings, and ultimately dismissal.

“New Zealand’s big four banks make billions off their New Zealand customer base, and they should lead from the front in their work practices. Instead, the banks are systematically creating stress for workers who are subjected to completely unrealistic sales targets,” Maxine Gay said.

“The scale of profits among the big four banks needs to be questioned by New Zealanders, who are constantly sold the story, today included, that mega profits are a good news story for the New Zealand economy.”

FIRST Union will be entering wage negotiations with Westpac over the coming weeks. Westpac employees will be interested to see what salary increase Westpac offers in this high profit environment, Maxine Gay said.

Ends.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Pacific Spying: Mass Surveillance Of NZers Confirmed By Former GCSB Director - Contradicting PM John Key

Scoop Editor Alastair Thompson Reports: Yesterday morning former GCSB Director Sir Bruce Ferguson confirmed mass surveillance of New Zealnders in the Pacific is taking place as revealed in the latest Snowden leaks investigated by Nicky Hager. In 2013 John Key told press gallery reporters that in the event mass surveillance was found have been conducted by the GCSB, he and the director of the GCSB - his childhood friend Ian Fletcher - would resign. As the controversy deepens a year and half later Fletcher has already resigned. But will Key? More>>

Gordon Campbell: Legal Fudging Of The GCSB Revelations

As many have noted, the Hager/Snowden revelations of the spying by our security agencies on our Pacific neighbours and allies is a virtual re-run of the pre-election debate. It is a situation where the government (a) stonewalls, (b) baldly asserts that mass surveillance is not occurring despite the Snowden evidence that it is, and (c) claims that the GCSB actions were lawful. Yet as Greens Co-Leader Russel Norman says, this can be true only if the legislation passed last year by the Key government has made the mass surveillance of New Zealanders – and the related handing over of their private data to the NSA – lawful. More>>

Latest:

 

PARLIAMENT TODAY:

Women's Day, March 8: It’s Time For Men To Step Up For Gender Equality

UN Women is launching the HeForShe campaign in New Zealand at the International Women's Day Parliamentary Breakfast, and is calling on New Zealand men — including politicians and community and sports leaders — to show their commitment to gender equality by signing up to this global campaign. More>>

ALSO:

Teina Pora Wins Appeal: Gordon Campbell On The Privy Council Decision

The quashing of the convictions of Teina Pora for the rape and murder of Susan Burdett in 1992 has shone a spotlight once again on a major gap in the New Zealand justice system... More>>

ALSO:

Urgent Bill Planned: MP Pay Rises To Match Public Service

Prime Minister John Key today announced an overhaul of the Remuneration Authority Act, tying MP salaries to those of the wider public sector, which will be passed under urgency. More>>

ALSO:

PM's Press Conference: MP Pay Rises, Solid Energy, Iraq

Prime Minister John Key answered questions in his Post-Cabinet press conference about the Iraq deployment, Solid Energy and National’s decision to overhaul the Remuneration Authority Act. More>>

ALSO:

Worksafe: MSD Charged Over Work And Income Ashburton Shooting

WorkSafe NZ has laid one charge against the Ministry of Social Development (MSD) in relation to the shooting at the MSD Ashburton office on 1 September 2014 in which two Work and Income staff were killed and another was injured. More>>

ALSO:

Iraq: Ex-Hostage Says Government Not Putting NZers, Iraqis First

Harmeet Singh Sooden is travelling to Iraq in the coming weeks to work with Christian Peacemaker Teams (CPT) on a short-term assignment. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news