Hundreds of bank employees will go on a strike this Wednesday
Westpac said it “remained open to constructive discussion” with the hundreds of Westpac workers who were planning to go on a strike starting this Wednesday over the bank’s pay offer.
The strike action was voted by nearly 900 FIRST Union members, after rejecting a pay offer following five months of bargaining.
Bill Bradford, FIRST Union organiser, said the bank made a billion dollars of profits last year, but salary increases being offered don't even cover workers' cost-of-living increases, adding that the workers “want to be rewarded for their fair share of big profits after a decade of stalled wages.”
In response, a Westpac spokesperson said the bank is “mindful” of the increasing cost of living and the financial impact on its employees.
“Our offer of a 7% pay increase over 18 months is above the forecast inflation track, and on top of that we’re also offering a one-off cash payment,” the spokesperson told RNZ.
“We believe our remuneration compares favourably to other employers in the financial services sector and includes a range of attractive benefits for all employees, such as a market-leading one week of wellbeing leave on top of annual leave, discounted banking, competitive superannuation and subsidised health insurance.”
Bradford said the union members would nationally withdraw their labour during specific time slots on July 9, with the specific times and any further dates to be announced in the coming days.
Westpac, meanwhile, said it has “plans in place across the business to minimise any disruption for customers” and thanked them for their understanding.
“While we acknowledge union members have voted in favour of rejecting Westpac’s offer, this still represents a minority of our overall workforce,” the spokesperson told RNZ.
Further details on this week’s strike actions will be provided in the coming days.
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