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NAB (ASX:NAB) share price lifts amid reports of another pay scandal NAB (ASX:NAB) share price lifts amid reports of another pay scandal The National Australia Bank (ASX: NAB) share price is up slightly after reports the bank will face legal action for alleged unpaid wages. Marc is a Master of Journalism and Communications student at UNSW and journalist at The Motley Fool. He has a passion for journalism and news with a keen interest in business, the media, politics, foreign affairs, and how they intersect in everyday life. Latest posts by Marc Sidarous (see all) May 26, 1:03pm AEST ....
By Reuters Staff 1 Min Read May 26 (Reuters) - National Australia Bank Ltd on Wednesday said issues related to underpayment of staff for part time work had impacted 3,200 current and former employees. The country s third-largest bank also noted a local media report here that said the Finance Sector Union was looking to lodge Federal Court proceedings against the bank for alleged underpayment of staff. (Reporting by Soumyajit Saha in Bengaluru; Editing by Christopher Cushing) ....
FSU The Finance Sector Union (FSU) is celebrating the decision by Federal and State Health Ministers to regulate psychosocial hazards in the workplace. FSU National Secretary Julia Angrisano said employers will no longer be able to ignore the impact of hazards to mental health in the workplace and will be obliged to take action to eliminate them. This includes addressing the causes of sexual harassment which often manifests itself through psychological injuries. It’s a really significant improvement in making work safe for women. “This decision by Federal and State Health Ministers means that we will have equal protections for physical and mental health and safety. Future generations of workers will have more rights because of this reform,” Ms Angrisano said. ....
Costs in focus as Westpac braces for margin, competition pressures Save Share Westpac Banking Corp says its ambitious three-year cost-cutting program will not target a specific number of branch or staff cuts but inevitably involve both, as it accelerates a shift to digital banking to ensure it remains competitive in an era of ultra-low official interest rates and more intense competition from tech players. Chief executive Peter King said expenses will rise this year, from $10.2 billion in 2020, before they begin to fall in the 2022 financial year. The plan is for costs to hit $8 billion in 2024, 21 per cent lower than the 2020 level. ....
Branch close ‘no surprise’ THE closure of the Rosebud branch of the ANZ Bank on 18 March was on the cards for the past six months. In October 2020, the bank’s general manager for Victoria Michael Wake said: “Every year we see 10 per cent less transactions at our branches because our customers no longer use them for everyday banking like they used to. “While branch activity has declined, we’ve seen a spike in demand for many of our non-branch roles, such as customer contact centres and the operations team which manages hardship and other inquiries. “The majority of our customers now prefer the convenience of doing their banking when it suits them. Our apps and call centres are convenient, and we’ve also seen a number of passbook customers opting for debit cards recently to expand their banking options.” ....