ACTU – Jobs NAB’d and profits pocketed: Banks Sell Out of Workers

 Jobs NAB’d and profits pocketed: Banks epic sell out of workers

Australian Unions have renewed calls for a Royal Commission into the big banks, after NAB announced plans to slash a fifth of its workforce, despite a $6.64 billion profit.

The extreme announcement to fire 6,000 staff, comes after countless scandals, detailed in the ACTU’s banking dossier, released yesterday.

Australian Unions urged all parliamentarians to back a Royal Commission into the big banks, and to block efforts by the Turnbull government to allow big banks more access to working peoples’ superannutation.

Quotes attributable to ACTU President, Ged Kearney:

• “NAB profited over $6BN from hard working Australians last year. Sacking one fifth of their workers is a greedy, heartless and irresponsible decision.
• “NAB are abandoning the very people who allowed them to achieve record profits, its workers.
• “These massive job cuts are just wrong. 6,000 people will now be without a job because of the self-interest of banking executives.
• “These cuts will close branches and reduce services.
• “NAB have ripped off customers, putting profits ahead of people.
• “The Turnbull Government have failed to instigate a Royal Commission into the banks, preferring tax cuts for businesses racking it in, and abandoning working people. 
• “To make matters worse, the Turnbull Government have legislation before Parliament to give big banks more power over working peoples’ retirement savings.
• “Many of the Liberal front bench are former bank employees. Imagine the government’s outrage if this was a union behaving in such a terrible way. There’s clearly one rule for unions and another rule for the big banks.
• “Big banks in Australia have way too much power. It’s one of the reasons we have record inequality.
• “We have to change the rules to give working people more power.
• “We need to protect working people’s superannuation from the new legislative changes that will make it easier for the big banks to get their hands on working people’s superannuation by making it harder for workers to use their collective power to get better financial outcomes.”