Nervous wait for Suncorp staff

There has been radio silence down at Suncorp HQ following a bombshell email sent to chief executive Steve Johnston from staff concerned they may soon lose their jobs.

There has been radio silence down at Suncorp HQ following a bombshell email sent to chief executive Steve Johnston on the weekend from staff concerned about job security.

City Beat spies tell us a long awaited discussion about the future of Suncorp in the wake of ANZ’s stalled $4.9bn bid for the group’s banking operation has not been forthcoming.

The email sent to Johnston (illustrated) from a group of anonymous staff members working in insurance claim they have been working in “limbo” since the deal was rejected by the Australian Competition & Consumer Commission earlier this year.

A reorganisation of the insurance business also has unsettled staff with fears jobs are on the line. City Beat spies tell us there has been falling morale at Suncorp for some times with one noting “the wheels are not quite off but are starting to rattle.”

A pedestrian walks past a Suncorp Bank branch in Melbourne.

Our spies tell us frustrated staff are examining whether to make their own submission to the Australian Competition Tribunal, which will ultimately decide whether the sale to ANZ will proceed. They also are looking at engaging with the Queensland Government about the public interest benefits from the sale that have been promised by Suncorp.

Staff have told management they are in no way resistant to the structural changes to the Suncorp business but just want better communications.

“We understand that we need to be lean as a business, keeping our costs down and achieving our market commitments, especially with the potential cash injection of the bank sale in limbo,” they say.

“This may also mean some of us may have our positions being made redundant which, while difficult to accept, will be easier if communicated early, clearly and with empathy.”

In response, a Suncorp spokesperson told your diarist: “Steve is always very engaged with our people - this week he is in Adelaide and Perth meeting with our people face-to-face, and last week he was in Canberra visiting our team there. He regularly communicates company-wide and is supported by a highly-engaged senior leadership team right across the group.”

Suncorp’s monthly employee survey shows engagement across the group has remained consistent and in the top 25 per cent of the finance industry, with employee satisfaction in the top 10 per cent, the spokesperson said.

Crowley scores

Former Wallaby Dan Crowley is scoring tries again. The chief executive of ASX-listed traffic management operator Avada Group has just overseen the $8.5m acquisition of Melbourne-based STA Traffic Management, the company’s third acquisition in as many years. STA is one of the top five traffic management companies in Victoria and expands Brisbane-based Avada to 31 depots and more than 2,400 traffic controllers across Australia and New Zealand. The deal follows the purchase of another Victorian traffic management company Construct Traffic in August 2022, and putting roots down in New Zealand with Wilsons Traffic

Management in May this year.

Crowley says that with infrastructure and road spend ramping up across the country in the lead up to the Brisbane 2032 Olympic and Paralympic Games, demand for traffic services will only increase. Avada’s board now includes ex-Aurizon boss Lance Hockridge and former Department of Transport boss Neil Scales.

Traffic control during a Broncos fan training session at the Red Hill