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Our Jobs Issue No.4 of 2014, Friday 20 June

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Secret trade agreement negotiations put finance jobs and data security at risk

Finance Sector Union National Secretary Leon Carter has slammed secret trade negotiations that may result in a tidal wave of finance job losses in Australia.

Australia is jointly leading negotiations for a Trade in Services Agreement (TiSA) with other WTO parties including the US, the EU and Japan. On the table are things like cutting government regulation of banking while at the same time lifting restrictions on the entry of overseas labour, storage and access of personal financial data and the number of banks and financial services providers that can do business in Australia.

“It is widely accepted that regulation of our finance industry sheltered Australia from the worst ravages of the GFC.”

“In what appears to be a case of collective amnesia, we now we have a government willing to capitulate to the demands of our big banks and financial services lobbyists at the expense of jobs, data security and the best interests of customers,” said FSU National Secretary Leon Carter.

“The danger of leaving the banking and finance industry to its own devices without any form of public accountability and regulation is the exposure to risky behaviour and practices that can cause financial harm and devastation to members of our community and to our economy as a whole.”

Read more:

FSU campaign improves pay and conditions for 29,000 NAB workers

An employee ballot at the National Australia Bank has endorsed an FSU negotiated Agreement to cover the bank’s 29,000 workers.
At the beginning of negotiations for a new NAB Agreement, FSU members said NAB needed to fix the broken pay model.

“The Agreement that will now be submitted to Fair Work Australia is the result of tireless campaigning by FSU members at NAB, and contains provisions that significantly improve pay. I congratulate FSU members at NAB on a job well done.” said Finance Sector Union National Secretary Leon Carter.

The main features of the Agreement include abolishing the use of the bell curve on performance, and a new absolute performance assessment that means workers will be measured against expectations rather than performance relative to other workers.

Other features of the Agreement include:

  • 4% p.a. for Groups 1 and 2 for rated “3C” or above
  • Transparent pay process for Groups 3 and 4 + right to appeal
  • Higher Floor rates for Groups 1, 2 and 3
  • Industry leading pay equity provisions
  • HSR allowances and Domestic Violence Leave
  • A genuine say during change and redundancies
  • Protected conditions around part time work, meal breaks, meal allowance, shift work, remote locations

Read more:


Industrial news in brief

Early indications from a current FSU survey of ANZ workers point to serious problems relating to understaffing, insecure jobs and pay, high targets, branch closures and role changes. The survey is still open, so if you work at ANZ make sure you have your say!

In response to pressure from FSU members at Bankwest a revised Agreement proposal is now on the table. FSU is consulting with Bankwest members across the country next week to establish if the revised proposal addresses concerns, before an employee ballot. Read more...

FSU Rep Karen Downes (pictured opposite) has kicked off a blog to keep members up to date with developments during negotiations for a new Agreement at Superpartners. Check out Karen’s first blog instalment here.

Bust the Budget

FSU members in Tasmania, Victoria and New South Wales attended community rallies last week, to march for a fair Australia. More rallies are planned for Sunday 6th July. Pencil that date in your diary and keep an eye out for details of your local event.

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Authorised by Leon Carter, National Secretary
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