Hot off the press – bargaining news from ANZ National and Westpac

Bargaining with ANZ National concluded on Friday, and the Finsec bargaining team decided that the bank’s offer should be put to an indicative vote only to be held this week, as it fell well short of the mandate from members. The bank did not agree to any Finsec claims in full, and are offering a 2 year term with a 2.5% increase in the first year, and 3% in the second year.

More information on the offer and on the indicative vote will be faxed and emailed to ANZ National sites today, and the vote will run through to midday Monday 26 July.

At Westpac, Finsec members have voted in force against the bank’s offer in the indicative ballot that ended on Friday. Approximately 80% of eligible members voted in the ballot, and of those who voted, 89% voted to reject the offer. This represents a massive rejection of Westpac’s offer.

Feedback from members around New Zealand is that they were concerned about the lengthened term, and that the pay offer and lack of movement on other issues such as annual leave, were not enough to make them comfortable with a 16 month agreement. In particular, members identified that a pay offer of 1.5% now, and 2.5% in April is just not enough when we are facing predicted inflation of 5.9%.

The rejection of the offer means that members do not want to proceed to ratification and want further negotiations to achieve a better offer.

Finsec has already contacted Westpac to say that we want to set up further urgent negotiations.

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