Commonwealth Bank Pay Talks With The Union Start At Its Sydney Head Office Today

The Financial Sector Union is meeting with CBA management at its Sydney head office today to discuss the bank’s enterprise agreement.

Photo: Getty / Cameron Spencer

“We were disappointed with that last year given the record profit for the bank. We are expecting to catch up on some lost ground this year,” Finance Sector Union national assistant secretary Geoff Derrick told the Australian Financial Review.

Last year the talks didn’t go that well. They were called off after the bank rejected the union’s offer, and staff accepted a maximum 3.5% increase.

But this time around the union is going for a bigger pay bump, given the bank’s record profit and customer satisfaction levels.

The enterprise agreement covers more than 20,000 employees. Across the entire group, the bank employs more than 40,000 people.

Read more here.

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