Westpac workers to go on nationwide strike

After five months bargaining with their employers over pay concerns, 800 First Union members at Westpac banks have voted to take nationwide strike action next week.

First Union said since 2021, Westpac workers had received pay increases well below the rate of inflation while bank profits remained steady and executives and managers’ salaries continued to rise.

“Westpac workers have had a guts full of being given the runaround by billionaire bank bosses and are sick of waiting for progress in pay negotiations,” First Union organiser Bill Bradford said.

This Wednesday, some branches would take full day strike action, while specific times and any further dates would be notified to the bank and public in the coming days.

“Westpac took a billion dollars of Kiwis’ money in profit last year and sent it offshore to shareholders while simultaneously fighting to keep their own workers’ pay rises well below the cost of living,” Bradford said.

“Our members want real pay talks that progress rather than regress, and they want to be rewarded for their fair share of big profits after a decade of stalled wages.”

Union members planned to vote on further partial strike action related to their social media restrictions, he said.

“Workers should be free to share their opinions about low pay and conditions at work publicly without fear of disciplinary action.

“There’s a reason that the average Kiwi isn’t particularly keen on banks, and it’s being exemplified here in how these organisations deal with their own staff.”

A Westpac NZ spokesperson said, “We are aware of planned industrial action and are awaiting further details from First Union. We remain open to constructive discussion with the union on a resolution.

“We have plans in place across the business to minimise any disruption for customers, and we thank them for their understanding.

“We are mindful of the increasing cost of living and the financial impact on our employees. Our offer of a 7% pay increase over 18 months is above the forecast inflation track, and on top of that we’re also offering a one-off cash payment.

“We believe our remuneration compares favourably to other employers in the financial services sector and includes a range of attractive benefits for all employees, such as a market-leading one week of wellbeing leave on top of annual leave, discounted banking, competitive superannuation and subsidised health insurance.

“While we acknowledge union members have voted in favour of rejecting Westpac’s offer, this still represents a minority of our overall workforce.”