ANZ slammed by union for cutting jobs after breaking three-year promise

ANZ has been slammed for a controversial plan that will impact nearly 200 staff members just three years after promising no roles would be affected.

ANZ-owned Suncorp Bank has announced 197 roles will be impacted, with 66 Australians expected to lose their jobs in the restructure.

The other affected roles may have changing reporting structures or need to change positions within the organisation.

Most of the jobs are in Brisbane.

Financial Services Union national president Wendy Streets labelled Thursday’s announcement as an insult, saying ANZ broke a promise of ensuring no net job losses when it acquired Suncorp three years earlier.

“Now we are seeing workers pay the price. ANZ has said it is complying with its obligations, however, we have not seen the evidence to support that claim,” Ms Streets said.

“These are empty promises. ANZ told staff and communities they would be looked after. Instead, jobs are being cut.”

In a statement to NewsWire, an ANZ spokesperon denied the allegation, saying the bank was firmly committed to meeting its commitments to both the federal and Queensland governments.

These included no new regional branch closures and no “net loss” of jobs for three years until 2027 as a direct result of the acquisition.

ANZ took over Suncorp on July 31, 2024.

However, there could be changes to meet the businesses needs.

“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,” the ANZ spokesperson said.

Ms Streets said the cuts were a “disgrace for workers” who rely on secure jobs in the financial sector.

Thursday’s announcement follows a statement in September last year when the banking giant announced plans to reduce their headcount by 4500 staff members.

ANZ announced its plans to cut 3500 staff and 1000 contractors – or almost 10 per cent of jobs – over the next 12 months in an effort to “simplify the bank”.

At the time, ANZ said it would have limited impact to frontline customer facing roles.

Thursday’s announcement of 197 roles falls under the 4500 jobs ANZ previously flagged.