CBA Staff To STRIKE

Date: 01 June 2000

Commonwealth Bank employees Australia-wide have vowed to strike on Friday 9th June unless the Bank hires adequate staff and agrees to a fair wage increase, the Finance Sector Union said today.

"CBA staff hate inconveniencing their customers, but they know that unless they stand up to the Bank, it will continue cutting corners on service and treating employees and average customers with disdain", Peter Riordan of the Finance Sector Union said.

"CBA staff want to see an end to their customers waiting in long queues, they want the abuse from customers to stop and they want to again feel proud about where they work. That can only happen if the Bank starts providing adequate staff in all areas", Peter Riordan said.

"During Enterprise Bargaining negotiations over the past five months the FSU has also been demanding that the CBA provide its employees with a decent pay rise of 6.5% per year. In the 43 EBA meetings so far, the CBA has arrogantly dismissed its customer and staff needs by offering no more staff, an insulting pay rise of 2% per year coupled with a risky performance pay scheme", Peter Riordan said.

"The CBA has recorded profits of more than $2 billion dollars in the past eighteen months, so there's no question that it can afford to provide adequate staff and to pay them a fair wage. Other banks are already paying their staff more", Mr Riordan said.

Everyone is getting a fair share except staff and customers. 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%" Peter Riordan said.

"The FSU is keeping the negotiating door open, we hope the Bank will see sense before any action is taken. If not members will commence a campaign of industrial action starting Friday June 9", Peter Riordan said.

For further information

Contact:	Rachel Waldon
Union:	Finance Sector Union - National Office
Phone:	02 9 273 8221
WWW:	http://www.fsunion.org.au

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