Unlock the Editor’s Digest without cost
Roula Khalaf, Editor of the FT, selects her favourite stories on this weekly newsletter.
ANZ has issued an apology and offered psychological counselling to greater than 100 senior bankers after they received an email sent in error instructing them to return their computers, ahead of the news that they were going to be fired.
The Australian bank sent out the automated emails ahead of schedule on Wednesday. It held a web-based call with the staff later that day to substantiate that those that had received them could be losing their jobs.
“Unfortunately, these emails indicate an exit date for a few of our colleagues before we’ve been capable of share their end result with them,” said Bruce Rush, acting head of ANZ’s retail division, in an email to staff seen by the Financial Times.
“I deeply regret the distress this case can have caused. Please know that we’re committed to treating every colleague with dignity and respect as we move through this process,” said Rush.
The error comes as former HSBC executive Nuno Matos, who took over as chief executive in May, is ringing the changes on the bank. He is predicted to announce a strategic overhaul in October. ANZ’s shares have risen 18 per cent up to now this 12 months to A$33.69.
The bank has grappled with a series of scandals lately, including an investigation into alleged bond price rigging and bad behaviour on its trading floor.
ANZ had been planning to inform staff concerning the job cuts next week. An ANZ spokesman said the bank had “apologised unconditionally to our staff impacted”.
The Financial Sector Union, which represents employees within the finance industry, said it had been contacted by members over the emails, which had caused “panic and distress”.
“It is a disgusting way for staff to study job cuts — through a botched email as an alternative of a respectful conversation,” said the union’s national president Wendy Streets.
“These errors are the direct results of the chaotic pace of change being forced through by ANZ’s recent CEO,” she said.
Commonwealth Bank of Australia, ANZ’s larger rival, was earlier this month forced to reverse a plan to sack 45 call centre staff it planned to interchange with an AI chatbot.
The bank struggled to deal with an increase in incoming calls and has since apologised to staff and offered to redeploy them. The FSU complained to the Fair Work Commission, Australia’s employment tribunal, over the problem.