Westpac Turns Its Back On 120 Perth Workers At Asgard

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18th October 2010, 12:17pm - Views: 1352





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Media Release 

Monday 18th October 2010


Westpac turns its back on 120 Perth workers at Asgard


The Finance Sector Union (FSU) has today condemned Westpac’s decision to cut its

Asgard work force in Perth by one third. The decision will see 120 jobs lost from

Westpac’s wholly owned subsidiary, Asgard’s Perth operation. 


The FSU said that it showed that the banks were seeking to make cuts to boost their

bottom line but at the expense of loyal workers and the Western Australian community.


Leon Carter, National Secretary of the Finance Sector Union, said the banks’ decision to

offshore was unacceptable and reflected a view that maximising profits was all Westpac

was interested in.


“This decision, dressed up in the language of a strategic review by Westpac, is all about

cutting jobs in Perth and sending some of the work overseas and some to Sydney for no

other reason than to boost profit.  And this is at a time when Westpac is experiencing

record profitability and hinting that it will lift home loan interest rates above RBA

movements,”


“Banks have a responsibility to ensure that staff and customers are not always being put

second to the interests of higher profit and higher executive remuneration.  The workers

at Asgard in Perth have been loyal and productive employees contributing to these

record profits.  Yet their reward is to lose their job,”


“We are calling on Westpac to reverse this decision and for the bank to consider the

responsibility it has to ensure that all states in Australia benefit from its business and not

send jobs off shore”. 


“Westpac has a broader responsibility than just pursuing profits at the cost of jobs and

skill development.


“The community does not support offshoring and restructuring that banks so regularly

engage in. 90% of the public and 93% of workers want a commitment from the

Government and banks to stop offshoring,” said Mr Carter. 



Ends

Spokesperson:


Di Marshall, State Secretary WA, 0419 915 794

Media: 



Leanne Shingles, 0423 821 773







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