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Issue No. 268 | 17 June 2005 |
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Courting Public Opinion
Interview: The Baby Drought Industrial: Lies, AWAs and Statistics Workplace: The Invisible Parents History: Bruce’s Big Blunder Politics: All God's Children Economics: Spun Out International: Shakey Trials Legal: Civil Distrubance Review: Crash Course In Racism Poetry: You're Fired
The Locker Room Parliament The Soapbox
 Wandering In The WildernessOnce Upon A Time In AmericaThe Truth Is Out ThereHistory RepeatsCash Cow On Private Tax Farm
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News Corporates Arm Firing Squad
The Finance Sector Union, representing 15,000 CBA staff, is seeking a clear the air meeting with Norris, a Kiwi with form. Norris was a key figure in New Zealand's Business Roundtable, a powerful lobby group that engineered that country's radical Employment Contracts Act. In the 1990s he shook the New Zealand banking industry, by introducting individual contracts and seven-day opening at the Auckland Savings Bank. Norris comes to the multi-million dollar chief executive's position as Australian shareholders demand workers' heads to pay for a dizzying round of corporate acquisitions and mergers. American, Solomon Trujillo, has been delivered an $11 million salary package to slash costs before the federal government privatises Telstra. Business analysts are urging Australia's largest company to punt another 10,000 people to make it more attractive to investors. Competitor, Optus, has announced it will try to compete with a minimum of 370 scalps. It has already started a national round of sackings expected to deliver 220 bodies, ahead of plans to close an outsourced call centre that will see 150 Tasmanian jobs exported to a low-cost Indian operator. The National Australia Bank, still suffering the fallout of last year's foreign currency debacle and board room wrangling, has already offered the market a sweetener of 2000 Aussie jobs. Fosters Group is expected to cut hard and often to fund its debt-laden takeover of major competitor, Southcorp. Fosters stumped up $3.2 billion to eliminate the rival and is expected to announce major job cuts after a two-month review of the combined operation. Australia's most profitable company, BHP Billiton, will start paying off the $9.2 billion it outlaid to eliminate WMC Resources by applying the bullet to at least 600 members of WMC's management and middle-management teams. Dairy Farmers hopes the elimination of 20 percent of its workforce will boost its coming sharemarket float. The producer of Ski yoghurt, Coon and Cracker Barrel cheeses, has already announced it will dump 460 Australians. International giant "Nestle" has promised to axe 147 Victorians as it moves to "rationalise" its operation. Norris was brought to Australia to replace retiring CBA chief executive, David Murray. Chinese Takeaways Explode Meanwhile, the federal government's desire for a no-minimum-standards trade deal with China has delivered up another 600 car component positions. AMWU members at Trico, Melbourne, downed tools after learning 160 of their jobs would be exported to China, a country that refuses to sign off on core labour standards. Across town, seatbelt and airbag maker Autoliv, targeted another 65 jobs as part of its move to punt 450 people by the end of next year. Last month, Workers Online reported that the proposed free trade agreement had cost more than 1000 people work at two NSW car component companies. Representatives of Trico and Autoliv said, last week, they had no alternative to moving operations to China.
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