CBA cans staff reward amid public anger over rates
(23 November 2010 – Australia) An extravagant masquerade-themed fundraiser and Christmas party for the Commonwealth Bank’s human resources and group services division has been cancelled following public and political outrage at extreme executive salaries and excessive interest rate increases.
The bank’s spokesperson, Nicole Ismay, blamed the cancellation of the event, scheduled for last Friday night, on negative comments made on a Sydney radio station.
Alan Jones, 2UE’s morning broadcaster, said that the Christmas party was nothing but a "slap in the face for the little people" following chief executive Ralph Norris’s record A$16 million annual pay pack.
''Thanks to one of my listeners I'm told that the Commonwealth Bank are having their major Christmas party today … at the Opera House and they're flying in people from all around Australia.''
Ms Ismay said that ''as this broadcast's false claims may be misinterpreted, particularly in the current climate which has seen an increased focus on the bank, regrettably, the decision was made to postpone the event''.
Commonwealth Bank employees took to their social networking site to complain.
One staff member said "Not only have the staff been spat on, had abuse yelled at them, [been] assaulted by angry customers, they have the one thing the company gives back to them taken away … Abuse the people at CBA that make the decisions, the executives, don't punish the staff. They are just like you and me.''
This is not the first time one of CBA’s affairs has caught media attention, last year the bank was criticised for throwing an end-of-financial-year party for 800 head office staff, complete with champagne and caviar, three days after lifting interest rates in a move Mr Swan called ''selfish''.
Alan Jones, 2UE’s morning broadcaster, said that the Christmas party was nothing but a "slap in the face for the little people" following chief executive Ralph Norris’s record A$16 million annual pay pack.
''Thanks to one of my listeners I'm told that the Commonwealth Bank are having their major Christmas party today … at the Opera House and they're flying in people from all around Australia.''
Ms Ismay said that ''as this broadcast's false claims may be misinterpreted, particularly in the current climate which has seen an increased focus on the bank, regrettably, the decision was made to postpone the event''.
Commonwealth Bank employees took to their social networking site to complain.
One staff member said "Not only have the staff been spat on, had abuse yelled at them, [been] assaulted by angry customers, they have the one thing the company gives back to them taken away … Abuse the people at CBA that make the decisions, the executives, don't punish the staff. They are just like you and me.''
This is not the first time one of CBA’s affairs has caught media attention, last year the bank was criticised for throwing an end-of-financial-year party for 800 head office staff, complete with champagne and caviar, three days after lifting interest rates in a move Mr Swan called ''selfish''.
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