Commonwealth Bank Staff Strike

Date: 09 June 2000

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. Afterall, 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 tomorrow's 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.

For further information

Contact:	Sharron Caddie
Union:	Finance Sector Union - National Office
Phone:	039 261 5328
Email:	sharron.caddie@fsunion.org.au
WWW:	http://www.fsunion.org.au

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