Christine Parker, group executive human resources, Westpac
Christine Parker, group executive human resources at Westpac sent an all-staff email on Friday morning, writing: “We recognise that the cost of living increases are making it tough and while inflation is forecast to come back down in 2023, we want to do something to ease the pressure this year and to thank you for your contribution.
“So we’re proposing to make a one-off $1,000 payment (pro-rata for part-time) to all employees who are eligible to cast a vote for the proposed EA and employed at the time of payment.”
The missive soon drew the wrath of the Finance Sector Union.
Julia Angrisano, national secretary of the FSU said; “Westpac has not proposed any improvement to its base salary offer for tier 1 and tier 2 staff.”
“It's offer of a one-off payment of $1,000 represents Westpac’s strategy of delivering a real wage cut to its staff.
“A one-off payment does not go anywhere near addressing the on-going cost of living pressures Westpac workers are facing with inflation predicted to go above 7 percent.”
“Our members at Westpac say their workloads are out of control, with so much work it cannot be completed in a normal working day.”
Westpac is offering a pay rise of 4.0 per cent for staff paid up to $94,446 (or tier one) and a rise of 3.5 per cent for staff paid up to $118,807 (or tier two).