- Déc 5, 2020
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Fixed wage increases for CBA employees have been reduced to 1.5 per cent, 50 per cent less than other major banks offer employees through existing enterprise agreements. The bank has informed staff that its offer is only valid if an agreement in principle is reached before 2 October. Over the past decade, Commonwealth Bank has used massive individual agreements to exclude its employees from a large number of conditions in union collective agreements, resulting in millions of underpayments. It is estimated that approximately 30,000 employees are covered by the FSU enterprise agreement. They collectively turned down the offer following a union briefing this week. The CBA objected to any comment, as trade negotiations are confidential, with compensation being one of the final issues to be resolved. The revolt of some shareholder voting blocs was also provoked by changes to the CBA agreement for workers` companies, which will halve annual wage increases for employees. Under the Fair Work Act, it is illegal for employers to make the IFA a condition of employment, and the union`s enterprise agreement requires that it be made at the employee`s request and a « genuine agreement. » The complexity and lack of transparency has been linked by the bank to disciplinary action when workers discuss their wages or IFAs among themselves, with an individual agreement that is seen by the Financial Review, it makes a « condition of your job that you do not discuss these issues ». The bank has scrapped nearly 15,000 workers with individual flexibility agreements (IFAs), far more than any employer, in the context of business that scraps days off, overtime, annual leave, guaranteed wage increases, maximum hours and other enterprise agreement rights for higher wages and bonuses. However, the bank has failed to ensure that wages are better in some ARIs than the enterprise agreement reached between 2010 and 2019, by not taking into account actual working hours or by ensuring that wages are in line with THE wage increases guaranteed by EA. The financial sector union said that as part of its enterprise agreement, the bank had offered 30,000 employees, 2 percent and 1.5 percent of annual wage increases, while those with higher wages will not receive any pay increases this year. She said that neither the employees, nor many HR employees who made the agreements, understood what they were, and she believed that the bank`s support was a conscious move for her that benefited the bank and not the employee.
However, the agreements were only intended for minor changes to enterprise agreements or bonuses, such as the suspension of penalties, when a worker wanted to start work earlier in the morning so that they could pick up the children from school in the afternoon. Some CBA employees told the Financial Review that they didn`t even get the best-s millionaire and only got the signing agreement when they started working. While the FSU and its members are acting for increases of 3 percent more, in accordance with multi-year agreements negotiated with Westpac and NAB earlier this year, the pandemic has paralyzed the union`s bargaining power.