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Better ways to Protect Jobs in Banking Industry: Challenge for TU’s

Published: 22 May 2012
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 "A strong finance industry is the need of the hour to lead all other industries to recover from the current crisis. Trade Unions in the finance industry have a responsible role to play to bring back the customer first culture and win the trust from the society," said Yutaka Seki, President of UNI Apro Finance, at the inauguration of the 14th UNI Apro Finance Steering group meeting held on 5-6 May 2012 in Manila.



Banks in the Asia and the Pacific pacific region are cutting jobs despite good profits in a comparatively sound financial sector. This phenomenon is not unique to MNC banks as Australian and Malaysian banks devise strategies for new business models to reduce staff. This will not only take away decent jobs from people but affect the quality of customer service. Some concerns have been raised by steering group members at the meeting.



"UNI’s strategic plan, as endorsed by the Nagasaki Congress in 2010, is now implemented in all regions and across the sectors and amongst inter-professional group activities," said Christopher Ng, highlighting UNI Apro Priorities at the meeting. Referring to the ASEAN Economic Integration and emerging ASEAN Economic Community by 2015, Christopher said there are many challenges for trade unions and UNI Apro pro-actively engages with ADB and ASEAN Secretariat to promote and propagate trade union interest through social dialogue in the region.



9 governments out of 10 ASEAN member countries including Myanmar currently support the accreditation of ASEAN Services Employees Trade Union Council (ASETUC). ASETUC is a joint GUF initiative pioneered by UNI Apro.



"UNI Finance steering group's position paper on restructuring can be used as a guide to assist all finance sector unions to address the challenges of restructuring now taking place in the industry." said Marcio Monzane, Head of Dept. in UNI Finance Global Union.



"Saving and protecting jobs should be the main priority of banking sector unions," said Leon Carter, FSU Australia. All major banks in Australia are doing well and making good profits yet they opt to cut jobs as cost saving strategies. In order to arrest this trend UNI Apro Finance affiliates need to find better ways to work together to protect jobs.



Finance is a strong sector in the region and the problems faced by the finance industry unions are common and in spite of economic vibrancy experienced and huge profits made by banks. "It is disheartening to see how decent regular jobs are taken away and replaced through outsourcing," said Joseph Solomon NUBE Malaysia. Solomon said he believes the strength of UNI and UNI Finance to address the problems and stresses that finance industry trade unions need to work with firm solidarity resolve the issues.



"Temporary Agency work has emerged as global industry where super employers increasingly becoming de-facto employers including the banking industry," Said Jayasri Priyalal, Director Finance Sector in the region. He highly recommends a research study to assess the impact of TAW in banking industry trade unions in the region.



Twenty banking and insurance industry trade unions from 10 countries in the region participated at the steering group meeting. Chairman and Vice Chairman of the Mitsubishi UFJ Trust & Banking Employees Union Japan attended the meeting as observers. Two days steering group meeting was held in conjunction with the 45th ADB Annual Meeting held in Manila. Steering group members took part in various knowledge sharing sessions organized by ADB.



The steering group adopted three resolutions in support of NUBE Malaysia’s complaint on union busting in May Bank, to recommence salary negotiation with FBOSL Sri Lanka and supporting NUBE Philippines complaint to ILO. [Refer to the related files for details]


Participants of the 14th UNI Apro Finance Steering Group Members