Billion $ NAB Keeps Chopping Jobs

Date: 14 May 2003

The Finance Sector Union (FSU) has called for the National Australia Bank to stop job cuts while making multi-billion dollar profits.

FSU National Secretary, Tony Beck said the Bank will announce another 60 job cuts tomorrow.

'That follows 1500 job losses last year. In 2003 the carnage goes on despite record results in many areas of the Bank.

'Staff deserve to be rewarded for their hard work, not threatened with more job losses,' he said.

The Union says the Bank has consistently understated the number of job cuts and overstated the number of new jobs.

Union figures show that at least 500 more jobs have been slashed than the Bank first predicted. In the past five years the National has shed over 4,000 jobs and closed over 150 branches.

'The Bank is very focused on cutting jobs. Staff and customers are suffering.'

Mr Beck said the bank could employ more staff to increase the service for customers in branches, call centres and finance areas.

Mr Beck said that the National could afford to stop cutting jobs. 'Billion dollar profits should mean more jobs,' he said.

For further information

Contact:	Peter Lewis
Union:	Labor Council of NSW
WWW:	http://workers.labor.net.au/

LaborNET is proudly created, designed and programmed
by Social Change Online for the Labor Council of NSW
[Credits] [Site Matters]