Andrew's ramblings

How can a company justify cutting jobs

Tags: General

It was announced today that the ANZ bank will drop 500 of its back office workers in Australia and shift the jobs to India by the end of the year.

I can certainly appreciate a company wanting to save money, but not when it risks their reputation while they do it. And banks at the moment have a very bad reputation to begin with, they are organizations that exist for pure profit only. The bigger the profit the bigger the bonuses these fat cats receive.

When the average worker leaves a company whether it be by their own hand or by downsizing or being sacked that person will only get what they are entitled to. These people running the banks not only get extremely high salaries to begin with, they also get very hefty hand shakes when they leave the company as well.

And who pays for this, its their customers.

What is interesting is that these companies spend a lot in research and development for improving their business, which is fair enough. But when it is forecasted that the ANZ will only make around $1.5 billion for the first half of 2009 instead of the previous years $1.9 billion they spend more money to investigate how to improve this profit.

And the number one thing is the average worker for these companies, will end up loosing their job. Come on give us a break you make around $ $3.9 million in a year, it wouldn't hurt these companies to give us workers an honest break.

How can they justify telling people that you will loose your job because we need to maintain our high profits?

These banks also go to extreme lengths to not let people know how many jobs are offshore, and they spend lots of money to protect that as well. Would that money spent, not be better spent on employing someone locally in the first place.

With the advent of Pacific Brands just recently announcing that they will cut more jobs, if we boycott from buying their products. Blackmail...

I certainly don't care about these type of tactics, what I do care about is the attitude of these businesses and companies. At the end of the day people don't forget, and as much as this sounds harsh any company that earns this amount of profit like the ANZ does, should be able to weather the storm a bit more and help keep the economy going. By sacking people and moving the jobs off shore, is not helping in the economic woes that we are in.

But I will boycott these type of companies from now on, as I know thousands of others are also going to be doing.

It is time the Rudd government looked at what they are doing, when it comes to helping these companies with stimulus packages. In my eyes you earn that much profit you can take care of your own backyard, and if you fall under the wayside then I guess it will be no big loss if a Fat Cat is removed from business.

Give us a break, and look at your own pockets before cutting jobs to fatten your own pockets more.

At the end of the day what does the ANZ bank care about, its not you or me or the worker they let go either. Many of these people who are no longer working, have mortgages and have other bills to pay. And if they worked for the ANZ they will more than likely have their home loan with that bank too. So what happens when these people can no longer control their finances due to the bank letting them go, they will not hesitate to come in take your property from underneath you and wave you goodbye as they destroy these people even more.

It is time that legislation be changed that these companies adhere to very strict guidelines, that includes if the Australian government is going to set conditions on the support it provides in the form of government guarantees. These should include bringing all jobs back into Australia, and also include the salary of these people be capped.

It is time to stop this madness of Corporate Greed.