
Issue No 57		09 June 2000

LaborNET	Ask Neale	Tool of the Week

News

Commonwealth Bank Staff Strike

Thousands of Commonwealth Bank staff Australia-wide are on strike in protest of the Bank's appalling treatment of customers, its refusal to provide adequate staff and its underhand attempts to drive down some employees' wages.

The bank estimates 70 per cent of branches are closed - the Finance Sector Union estimates it could be even more.

"Commonwealth Bank staff are so outraged at the way they and their customers are being treated they feel they have no choice but to strike", Peter Riordan of the Finance Sector Union said.

"CBA Staff sincerely regret that their customers will be inconvenienced. However, they're hoping most customers will agree the severe staff shortages can't go on. After all, customers are the ones forced to stand in long queues and pay higher fees for less personal service, and they're getting increasingly angry and abusive at staff who aren't to blame", Mr Riordan said.

The difficult decision to strike follows a breakdown in Enterprise Bargaining Negotiations between the Finance Sector Union and the Commonwealth Bank.

"We've given the CBA five months and 43 meetings to address the staffing situation and it simply refuses to. To top that off the Bank has offered staff an insulting 2% per year pay rise and a risky performance payment scheme that will drive down wages".

"The CBA's staff are responsible for profits of more than $2 billion dollars in the past eighteen months, yet the Bank is determined to pay them the least of any other major bank".

"Everyone is getting a fair share except staff and customers. Two days ago CBA's Executives made millions from their stock options, last year shareholders received a substantial dividend increase, the CBA Managing Director got a pay rise of 33.5% and the CBA Directors' fees are rising by 50%. All staff want is a 6.5% per year pay rise to keep them level with other banks".

"We hope this action will be enough to convince the Bank how wrong its treatment of staff and customers is. If not, more industrial action is likely", Peter Riordan said.

   Visit the FSU

  View entire issue - print all of the articles!

  Issue 57 contents

Interview: Cocky Labor
On the eve of State Conference, Country Labor convenor Tony Kelly outlines how Labor is stealing the ground from under the National Party's feet.

Economics: Millenium Work Ethics - A New Social Partnership?
The future of work in the twenty-first century will be both provocative and challenging, according to Professor Russell Lansbury.

Politics: Extracting the Digit
Labor's federal communications spokesman Stehpen Smith outlines the Party's position on the controversial datacasting legislation currently before Parliament.

History: Hot Off the Press
Check out what's in the latest issue of Labour History - A Journal of Labour and Social History,

International: The East Timor of Africa
Nobel laureate Jose Ramos Horta will this week tell a Sydney audience of the parallels between East Timor and the nation described as the last colony in Africa - the Western Sahara.

Environment: MUA Snail Men Honoured
Brisbane wharfies Lehi Munday and Mal Monro look an unlikely Watson and Sherlock double, but their keen detective work has helped win the Southern Queensland MUA Branch two national environment awards.

Satire: Howard Says 'Sorry'
In a startling apology to the Aboriginal community, Prime Minister John Howard said last night he was deeply sorry that he turned up to the Corroboree 2000 celebrations.

Review: Front Stage and Pulp Fiction
The Waterfront War has made the transition from industrial showdown to cultural icon. Now it's inspiring artists.

» Rival Computer Deal Imminent

» Conference to Set New Ground Rules for Labor

» Call (of Nature) Waiting for Telstra Workers

» Democrats Come Through on Third Wave

» Joy's Bizarre Student Bid

» Commonwealth Bank Staff Strike

» Liberal Students Spark Uni Walk-Out

» Union Targets Asbestos Shonks

» Needle Stick Injury Sparks Waste Strike

» Security Guard Wins $100,000 in Back Pay

» Paddy Troy Memorial Prize

» Robbo for Post-Conference Smoko