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  Issue No 74 Official Organ of LaborNet 20 October 2000  

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News

Another Bastard Bank On Rampage


On Tuesday this week the National Australia Bank announced it was about to embark on a program of 100 branch closures, cutting about 250 jobs and increasing fees and charges for a range of services.

The bank is now on track for a record $1.3 billion profit this year. It has already closed 88 branches in the past 12 months with a further 10 already announced as closing before Christmas.

NSW/ACT FSU Secretary Geoff Derrick says employees of the National have reported consistent understaffing in virtually all areas of the bank's operations and are now faced with the prospect of even more customer abuse because of the bank's policies.

'These are the same people who delivered an average net profit of $67,657 per full time employee last year. They are the ones who take the brunt of customer outrage. There are physical assaults and verbal abuse, they are called 'lazy sluts' and get slow handclaps from people in queues.

Geoff Derrick says the market has a hunger for these cuts which are about boosting the share price.

'After announcing cuts this week the NAB share price went up 28c,' he says.

'This announcement reinforces the view that the Australian finance sector will not self regulate to meet the industry's social obligations to provide fair and affordable access for all Australians to the financial system. It follows similar cutbacks to jobs and services made by the Commonwealth, Westpac, St George and ANZ this year.'

'We will continue our campaign for legislation to enforce community service obligations on the industry.'


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*   View entire issue - print all of the articles!

*   Issue 74 contents

In this issue
Features
*  Interview: Politics Italian Style
Italian journalist's union official Rodolfo Falvo talks to Peter Lewis about Italy's Rupert Murdoch and why Italian politics is so crazy.
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*  Unions: A Partnership That Works
Students at Williamstown High in Victoria are benefiting from a creative partnership with TAFE and the Electrical Trades Union. Kevin Peoples reports.
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*  International: Fiji Paymasters Fill Their Own Pockets
The Interim Administration imposed on the people of Fiji, as a result of the coup-makers, have voted themselves a hefty pay increase at the same time as they demand public sector workers take a twelve per cent pay cut.
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*  Politics: USA Campaign 2000 - On the Road
Michael Gadiel reports on the thrills, spills, highs and lows of the US Presidential Election.
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*  Women: Party Girl
'You can take the girl out of the Port, but you can't take the Port out of the girl' - Stephanie Key recounts her life as a feminist in a male bastion, the Transport Workers Union.
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*  Satire: Telstra to issue $50,000 Reith Phonecard
CANBERRA, Monday: Telstra have announced Peter Reith-themed phonecard. The phonecard allows friends and family to make $50,000 worth of phone calls on it before you receive a bill. Plus, you only have to pay the bill in total if there is sufficient public outrage, otherwise the card costs just $950.
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*  Review: Health, Wealth and Mutual Obligations
Mutual obligation for the poor only, increasing income inequality and a widening health gap. Welcome to the 21st century -or is it the 19th?
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News
»  Bitter Dispute Ends With Joyful Tidings
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»  Bodgy Telemarketers Face Union Wrath
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»  Another Bastard Bank On Rampage
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»  Employers Reject Individual Contracts
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»  Time To Come Clean
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»  Child Care Workers Tell Kim How Howard Nicked Their Money
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»  Reith Must Apologise Say Hotel Workers
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»  Telstra Too Smart On Casuals
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»  Primed To Win
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»  Payday Nightmare Follows AFFA Outsourcing
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»  Palestinian Community Seeks Union Support
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»  Trade Union Choir Rocks Town Hall
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»  WorkCover Goes For Gold In Paralympics
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Columns
»  Away For The Games
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»  Sport
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»  Trades Hall
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»  Tool Shed
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Letters to the editor
»  Bullying A Bastardisation Ritual
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»  Wild Memories of Melbourne
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»  The Great Reformer?
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