|Issue No 89||23 March 2001|
HIH Urged To Safeguard Employee Entitlements
The Finance Sector Union of Australia has called on HIH and KPMG, the company receivers, to immediately dispel staff concerns about employee entitlements.
The collapse of HIH again highlights the importance of securing Federal legislation to protect all employee entitlements when a company goes into liquidation.
"While we hope, and will campaign to ensure that employee entitlements are protected in the HIH disaster, the collapse of the company and the anxiety of our members about their entitlements highlights the abject failure of the Federal Government to provide proper protection for Australian workers caught in this situation. They have been dragging their feet for too long on this issue", FSU National Secretary, Tony Beck said
While Management is informing the union that employee entitlements are secure, members are under the impression that entitlements to annual leave and long service leave will be lost. Members are also concerned about the company's ability to pay retrenchment payments to employees who end up without a job.
FSU has held initial discussions with HIH and QBE and have planned more in depth talks as soon as things become clearer. In the interim, the FSU will be urging NRMA and QBE to employ as many HIH employees as possible and insisting that those employees maintain all their years of service with HIH and all their entitlements.
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Last Modified: 15 Nov 2005