Union slams ANZ over job cuts

Finance Sector Union (FSU) condemned ANZ’s decision to axe 66 jobs across multiple Suncorp bank divisions, including business banking and home lending.

ANZ confirmed that 197 roles at Suncorp Bank will be impacted by its changes, with 66 workers expecting to lose their jobs, with the majority of these roles being based in Brisbane.

In September statement last year, ANZ said that approximately 3,500 employees would “depart” the group by September 2026.

ANZ had made a number of commitments to the Queensland and federal governments – this included no net job losses in Australia as a direct result of the acquisition for a three-year period – concluding mid-2027.

ANZ stated that during this period, there would be no regional ANZ and Suncorp bank closures and no changes to the number of Suncorp branches in Queensland, FSU said in a statement.

“These cuts are an insult to those conditions and are a disgrace for workers who rely on secure jobs in the finance sector,” the union added.

The union expressed concerns that the job losses are not in line with ANZ obligations.

“Workers and communities were promised stability and security, and that hasn’t happened,” it added.

FSU national president Wendy Streets said: “The government cannot allow a major bank to make binding promises to secure approval and then walk away from them.”

An ANZ spokesperson told HR Leader that: “ANZ is firmly committed to meeting our commitments to the federal and Queensland governments, including maintaining regional branch numbers throughout Australia and no net job losses in Australia as a direct result of the acquisition.

“As we make changes to our organisational structure to better reflect our priorities and business needs, we will treat our people with care and respect, and provide appropriate support throughout the process.”