Media Release
Embargoed until Wednesday 20th October, 2010
Bleak Christmas for CBA Mortgage Services staff in Adelaide
Up to 88 staff at the Commonwealth Bank’s Mortgage Services operation in Adelaide are
facing redundancy before Christmas this year.
Following a review of the bank’s South Australian operation, Commonwealth Bank is to
close the Adelaide Mortgage Services department, and move the operation to Sydney.
Finance Sector Union Local Executive Secretary, Deb Black said the Commonwealth
Bank’s decision is a slap in the face for the Adelaide community, and a crushing blow to
the bank’s loyal workers.
The announcement comes hot on the heels of Commonwealth Bank’s record profit of $6
billion, and a 75% increase in CEO remuneration.
“The bank has a responsibility to support the community it profits from. Keeping 88
South Australians in work is a good place to start,” said Ms Black.
“The Agreement covering these workers obliges the bank to make reasonable efforts to
redeploy workers made redundant to other roles within the bank, and we’ll be holding the
bank to that.”
“We’re calling on Commonwealth Bank to ensure there are no forced redundancies as
part of this decision,” said Deb Black.
The FSU are meeting with affected workers in coming days, to ensure they are aware of
their rights.
Spokesperson:
Deb Black, 0418 825 861
Media:
Leanne Shingles, 0423 821 773
NEWS 
