CORPORATE LEADERSHIP VACUUM: ANZ SET TO AXE 230 JOBS
While shareholders will be concerned about the direction AMP is taking, decisions taken by the corporation have also destroyed the livelihood of hundreds of planners.

6 March 2020 Finance Sector Union

ANZ have announced plans to cut 230 jobs from their private bank and advice business. This latest announcement comes just weeks after cutting 60 jobs from their commercial business, and 3 more branch closures.     

In announcing these job cuts to staff, ANZ literally said they are “…committed to helping rebuild trust in the financial advice industry.”

“As Australia deals with the serious negative economic impacts of coronavirus and unprecedented bushfires, it is beyond belief that ANZ thinks sacking hundreds of staff will help rebuild trust,” Finance Sector Union of Australia National Secretary Julia Angrisano said.

“The risks to the Australian economy are real. That is why the Reserve Bank reduced interest rates to record lows earlier this week. ANZ is a tier one business, they should be leading the way in mapping out sensible reforms that demonstrate good corporate citizenry.”

“Instead, large scale job cuts to boost their own profit at the expense of the broader economy is selfserving and short sighted.”   

“Australians backed the banks through the Global Financial Crisis; as the coronavirus and bushfire headwinds threaten the Australian economy, ANZ need to be reminded it has a broader responsibility to the community.”

“ANZ actions this week will simply confirm for ordinary Australians that too much of corporate Australia is driven solely by greed.”

“Whoever in ANZ bank thinks cutting hundreds of jobs will rebuild trust ought to have their own new job – as an author of fiction.”   

whiteknight wrote on Mar 11^th, 2020 at 1:13pm:


That would be trust by investors of course. But ANZ is down 4.3% today which is just wrong.