While the banks made combined profits in excess of $2.5 billion and CEOs recieve salary packages of more than $2 million each, banks continue to cut jobs and offshore work.
The finance workers’ union, Finsec, is currently running a petition for the goverment to make retention of current staffing numbers a condition of the deposits and wholesale funding guarantee schemes.
It’s pretty simple. Profitable financial insitutions receiving taxpayer support should not be adding to the recession by laying off staff.
You can download the petition here. Please print it off and ask your family, friends, work colleagues, sports teams, anyone to sign it. All it takes is a couple of minutes.