Union claims BoQ workers at owner-managed branches face the sack with no redundancy

The Finance Sector Union has taken aim at the BoQ over its takeover of owner-managed branches claiming workers face being sacked with no redundancy payments.

Finance Sector Union claims workers at up to 114 BoQ owner-managed branches face being sacked with no redundancy benefits.

The Finance Sector Union has fired a broadside at the Bank of Queensland claiming workers at up to 114 owner-managed branches face being sacked with no redundancy benefits.

BoQ revealed in August that it will be cutting staff numbers as it takes over owner-managed branches (OMB).

FSU national assistant secretary Jason Hall claims that because many of the bank’s OMBs are classified as small business employers as they have 15 or less workers, some of the staff left without a job will also receive no retrenchment payments.

“We’ve written to Patrick Allaway, CEO and managing director of Bank of Queensland, demanding that he acts to ensure the workers who have been building their profits – and his sky-high pay packet – are protected by decent redundancy provisions, if they’re not offered an ongoing job with the bank,” he says.

“BoQ staff - whether they’ve been working for the bank directly, or via an owner managed branch - have contributed to the $343 million BoQ made in profit in FY2024.

“Patrick Allaway earned $2.054 million in FY2024 while some of his staff are struggling to survive on $28 an hour.”

BoQ has asked OMB employees to express their interest (EOI) in positions for placement into branch roles once the takeover is completed.

But Hall says the problem is that they haven’t explicitly told workers if they don’t EOI then they won’t have a role once under corporate control.

“That lack of clear communication could cost workers,” Hall says.

However, a BoQ spokesman says they remain committed to working collaboratively with its owner managers through the conversion process. It is understood that the BoQ expects about 90 per cent of submitted EOIs will receive an offer of employment.

Bank of Queensland chief executive Patrick Allaway.

Ooh la la

If you like your wine and happy to splurge $850, then Thursday night at the Emporium Hotel might just be the ticket for you.

You can explore the finest Bordeaux-style blends from the USA in an evening reserved for just 10 guests at the Verite Collectors Dinner, held in the Firma Italian private dining room at hotel in South Bank.

It’s a rare opportunity to taste perfect 100-point wines plus a four-course menu featuring the award-winning W Black Wagyu and Glacier 51 Toothfish paired with Verite’s renowned collections – La Muse, Le Joie, and Le Desir.

More than $10,000 worth of Verite wines spanning 16 years will be tasted on the evening including the unreleased 2021 vintage. The event will be hosted by Andres Aragon.

Andres Aragon will host 10 guests at the Verite Collectors Dinner, at the Emporium Hotel.

Backpackers

Gold Coast’ reputation as a backpackers’ haven has been dented with research showing demand is far exceeding supply in the sector.

The latest M3 Property research report – Gold Coast Backpacker Market Review, October 2024 – found there was a lack of budget price backpacker hostels in comparison with the demand from this sector of the travel market.

James Ruben, national director, specialised assets at M3 Property, says there’s just 12 backpacker hostels located across the Gold Coast.

“Given that there is more demand than there are backpacker hostels available, especially on the Gold Coast, it is worth noting that there are relatively low barriers to enter the backpacker hostel sector, with no real legal barriers and relatively low start-up costs,” he says.