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New Enterprise Bargaining Agreement

Document date:  Fri 03 Jul 1998
Published:  Fri 03 Jul 1998 00:00:00
Document No:  138915
Document part:  A
Market Flag:  N

HOMEX - Melbourne                                                     

ANZ today announced that it had concluded negotiations with the
Finance Sector Union on a new Enterprise Bargaining Agreement.

The Agreement will be subject to a vote of all Australian staff and
contains a range of efficiencies designed to support ANZ's move to
global lines of business. Coinciding with the negotiation of the EBA,
ANZ and the FSU have also simplified the ANZ Group Award which will
now go to the Australian Industrial Relations Commission for

ANZ Group General Manager Human Resources and Management Services, Ms
Elizabeth Proust said the agreement provided salary increases and
performance based rewards for staff, benefited the business and
allowed for future growth.

"The Agreement is the result of a great deal of hard work by both
parties and provides a new EBA and Award which is good for staff and
for the business," Ms Proust said.

Under the new Agreement, ANZ has agreed to pay salary increases of 3%
in July 1998, 3.5% in July 1999 and 4.3% in July 2000. Key features
of the agreement are:

* Introduction of a new salary structure which allows for fixed and
variable pay. 
* Removal of all restrictions on the number of part time and casual 
staff and greater flexibility in the employment of part time staff.
* Greater flexibility in hours of work.
* The opportunity for ANZ to offer staff a choice between taking 
Rostered Days Off or having them paid out.
* Wider redeployment opportunities in the event of staff being made 
* The right to offer Australian Workplace Agreements.
* Phasing out of junior salaries by July 2000.
* Flexibility to negotiate further changes to meet particular needs 
of the business during the life of the agreement. 

The Agreement will run for 30 months following its certification by
the Australian Industrial Relations Commission, expiring in December

For media enquiries, contact:

Paul Edwards 
Head of Group Media Relations 
Tel: 03-9273 6955 or 0411-23 3390