ANZ-Suncorp deal: Union boss warns deal will trigger thousands of job losses and branch closures
A union boss has warned the ANZ-Suncorp deal would put thousands of employees out of work and trigger mass closures of dozens of bank branches. ANZ on Monday announced its proposed purchase of smaller rival bank Suncorp for $4.9 billion – marking it as the country’s biggest banking deal in 14 years. The bank’s chief executive, Shayne Elliott, has pledged to retain Suncorp’s Queensland branches and staff for at least three years. However, the Financial Sector Union (FSU) is skeptical and has warned thousands of workers will lose their jobs when the three-year period ends. Queensland Secretary Wendy Streets told Daily Mail Australia that both ANZ and Suncorp employees should be aware of the consequences of the deal. A union boss has warned the ANZ-Suncorp deal will cost thousands of employees and trigger mass closures of dozens of bank branches ANZ on Monday announced a proposed purchase of smaller rival bank Suncorp for $4.9 billion – marking it the country’s biggest banking