Comm Bank must keep jobs promise

Date: 30 March 2009

The union representing bank workers is calling on the Commonwealth Bank of Australia and Bankwest to stand by the commitment given to stakeholders that no Bankwest jobs would be slashed following CBA's takeover of the Western Australian bank.

Finance Sector Union National Secretary Leon Carter said, "Just six months ago Ralph Norris and Jon Sutton, hands on hearts, promised the Bankwest staff, the union, and the state and federal governments that no WA jobs would be lost as part of the Commonwealth Bank's takeover of Bankwest.p "They must immediately re-commit to maintaining all Bankwest jobs in WA. They have to end the uncertainty for Bankwest employees."

Commonwealth Bank CEO Ralph Norris assured WA Premier Colin Barnett there would be no job losses in WA as a result of the bank's takeover of Bankwest.

"The real problem here is the continuing practice of rewarding executives with bonuses for short term cost cutting exercises," said Mr Carter.

"Time and time again we see these overpaid executives, chasing extra dollars for their already bloated kitty, taking the short term option of slashing jobs, instead of taking a long-term view and investing in Australian jobs.

"The promises made by bank chiefs continually over the last 6 months must be kept. The FSU is calling on them to keep their word," he said.

"The Federal Government has to step in now. Taxpayer support for this industry must have some strings attached, including keeping Australians in work."

"Banks won't change their ways and stop slashing jobs of their own accord. The Federal Government needs to act and bring a stop to this short-term thinking and hold the banks to account," said Mr Carter.

For further information

Contact:	Leon Carter, National Secretary
Union:	FSU
Contact Mobile:	0409 946 597
WWW:	http://www.fsunion.org.au/

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