The Finance Sector Union (FSU) has requested workplace health and safety regulators across all Australian states to investigate ANZ’s handling of its planned job cuts. The union’s request stems from concerns regarding the bank’s processes and communication with staff during the restructure. ANZ is one of Australia’s largest banks, providing a range of financial services to individuals and businesses. The Finance Sector Union represents workers in the finance industry, advocating for their rights and wellbeing.
In letters to regulators, the FSU expressed apprehension that ANZ lacks adequate systems to identify and manage workplace risks associated with the job cuts. The union also stated that proposed control measures have not been clearly communicated to employees potentially affected by the restructure. The FSU has consistently urged ANZ to extend the redeployment period for workers scheduled to depart in mid-December and to address the broader impact of the planned reduction of 3,500 roles.
A recent union survey of 200 ANZ employees revealed rising stress, anxiety, and physical health symptoms among staff impacted by the changes. More than 60 per cent of survey respondents reported experiencing stress-related symptoms, including headaches, stomach pain, and muscle tension. Approximately 45 per cent indicated that the situation had negatively affected their family or personal relationships.
The survey further highlighted that 81 per cent of respondents believed communication from ANZ executives had been neither transparent nor timely. Nearly half of the respondents reported feeling unsafe raising concerns within the organisation. A significant portion of workers indicated that they first learned their jobs were at risk through media or social media reports, and some workers are still uncertain whether their roles will be impacted by the announced cuts.
