First jobs go at ANZ
(19 January 2012 – Australia) Melbourne ANZ staff were taken into meeting rooms this week and told to reapply for their jobs as the axe begins to fall at the bank.
The bank confirmed it had informed commercial and retail staff that they would no longer be required as the company cuts costs to appease shareholders.
At least 130 jobs were cut today, with workers told they would find out who would go after reapplications were processed in six weeks.
The Finance Sector Union is outraged at the move, saying the bank was guilty of short-term thinking to keep pushy financial institution shareholders happy.
'The banks feel they are under pressure to produce record profits year after year and as soon as they are under a little bit of pressure their answer is to cut thousands of Australian jobs' spokesman Leon Carter said.
An ANZ spokesman told news.com.au: "These changes reflect continued belt-tightening in the business, given the more subdued economic environment and the continued pressure fun ding costs are placing on margins.'
At least 130 jobs were cut today, with workers told they would find out who would go after reapplications were processed in six weeks.
The Finance Sector Union is outraged at the move, saying the bank was guilty of short-term thinking to keep pushy financial institution shareholders happy.
'The banks feel they are under pressure to produce record profits year after year and as soon as they are under a little bit of pressure their answer is to cut thousands of Australian jobs' spokesman Leon Carter said.
An ANZ spokesman told news.com.au: "These changes reflect continued belt-tightening in the business, given the more subdued economic environment and the continued pressure fun ding costs are placing on margins.'
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