FSU members strike

Over 420 members of the Finance Sector Union (FSU) employed at the 
Melbourne and Brisbane offices of French owned insurance giant AXA 
(National Mutual Holdings) walked off the job last Friday in pursuit of a 
nation-wide claim for improved pay and conditions.

FSU members at AXA are unhappy with the company's enterprise bargaining 
offer and have called on the company to increase its four per cent 
performance-based pay offer and withdraw proposals to abolish all weekend 
penalty rates.

Over 320 AXA staff in Melbourne and 100 staff in Brisbane met on Friday and 
voted to take immediate strike action in pursuit of their claims. Shift and 
weekend work will also be disrupted with FSU members on all shifts stopping 
work for 24 hours.

FSU National Secretary Tony Beck said that AXA staff were particularly 
disappointed by the company's approach to enterprise bargaining 
negotiations considering over 500 jobs have been cut in the past year as 
part of the company's $120 million cost-cutting drive.

"Work intensification is endemic across the whole finance sector and AXA is 
no different", said Mr Beck.

"Our members at AXA are working harder than ever. What they have said by 
taking this action is that they have had enough. They want the company to 
listen to them and they want their efforts  properly recognised and 
rewarded."

Despite the latest drive to cut costs at the company, AXA executives have 
continued to enjoy healthy pay increases, with the company's senior 
executives' salary bill increasing by over 22 per cent last year.

"Staff at AXA have seen the extraordinary salary increases senior 
executives are paying themselves and are outraged that what AXA have 
offered them wont even cover cost of living increases associated with the 
GST", said Mr Beck.

"Staff are not willing to watch senior executives and company directors 
line their pockets while they and their families go backwards."