It is truly amazing what the major banks are able to get away with as we read in the newspapers and hear on the radio about how the banks are cutting workers. And the first to be targeted were the casual employees, the ones with the least job security.
The big banks justify slashing jobs with the tired old line about it being because of the economy. We get told it’s because of the state of the global economy, yet as the banks cry poor they’ve recorded some of the biggest profits in living memory.
And in another breath-taking move by the major banks, they’ve decided that they won’t pass on interest rate cuts that are passed by the Reserve Bank of Australia. It would seem that the big four are keen on rubbing salt into the wounds of the average Australian, making it harder to make ends meet and repay mortgages and personal loans as the cost of living continues to rise.
The latest victims of the banks’ obsession with off-shoring jobs are workers at Westpac.
Westpac has proposed slashing 560 jobs, of which 150 are positions to be offshored. These planned cuts are on top of the announcement in November of 188 IT jobs to be offshored.
These proposed cuts are in spite of Westpac making a record $6.99 billion profit in 2011.
Get vocal and get behind the workers in our banks and support the Finance Sector Union.
Alex Schlotzer is ACTU web campaigns officer
R@W News is a forum for news, analysis and commentary about rights at work and related issues. The opinions presented in R@W News are those of the author, and do not necessarily represent policies or views of the ACTU.