Ten years in the making, Aussie staff win impressive new contract at Westpac

After 10 years of having no collective agreement Westpac has finally responded to employee demands for a collective agreement that provides certainty on pay and conditions for their Australian workforce. The Finance Sector Union and the bank have concluded negotiations for the agreement covering 26,000 staff.

The deal would deliver 10% pay increases for most staff through the 26 month term, and provide for independent arbitration of individual disputes – including around targets and performance assessments. It also includes 13 weeks paid parental leave, in addition to government payments.

The outcomes of bargaining are especially interesting for Finsec members who are less than a month away from bargaining with Westpac.

FSU members are now considering the negotiated outcome and will cast their votes in the coming weeks.

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