129 Finsec members offered voluntary redundancy in ANZ branch downsizing

129 Finsec members in ANZ branches were told yesterday that their applications for voluntary redundancy were accepted as part of a major downsizing of their branch network. Staff have until 7 November to make a final decision on accepting or rejecting the offer of voluntary redundancy.

Affected members have 2310 years of service between them, an average of 17.9 years each. The redundancies are likely to worsen existing understaffing problems. In our recent survey of ANZ staff 47.5% of respondents said their branch was currently understaffed.

ANZ will soon start a process to review roles in its branches with a move to a single CSO role widely rumored. Finsec is in dialogue with the bank about the terms of reference for the review.

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2 Responses to “129 Finsec members offered voluntary redundancy in ANZ branch downsizing”


  1. 1 ANZ Worker 3 November, 2008 at 9:08 pm

    Do we know if this single CSO role that is being rumored, will result in more redundancies? I’m a CSO2, and I don’t want to be doing CSO1 work again. If I wanted that, I would have stayed as a CSO1. I was not interested in putting in an expression of interest for voluntary redundancy right now, but if the two roles are made into one, I would like to know if we have the option of getting redundancy when they do this?

  2. 2 finsec 7 November, 2008 at 2:22 pm

    Hi ANZ Worker

    At this stage ANZ has not announced a plan for a single CSO model, however given that there is going to be a review of branches, there is a chance this will be looked at. National Bank and the BNZ both have a single pre-sales role in their branches and Westpac has also looked at moving to this model.

    If ANZ does move to a single CSO role we need to see exactly what is being proposed at that time. In other banks we have argued that the role is different to the existing roles – this makes it a technical redundancy and we believe redundancy should be offered to all those who do not want to accept the CSO role. However, the banks have generally not agreed with this position and I imagine that the ANZ will be reluctant to offer all CSO1s and CSO2s redundancy.

    Please call Finsec on 0800 FINSEC and we can discuss this further.

    Andrew Campbell
    Finsec Campaigns Director


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