Commonwealth Bank statement

26 July 2002

The Commonwealth Bank today advised the Australian Industrial Relations Commission that it has reviewed its position regarding the redeployment period provided to staff who have been identified as surplus to the Bank’s operating requirements.

The Bank will now provide a four week redeployment period to staff to consider the options, including pursuing alternative employment opportunities within the Bank.

The Bank reiterated that its main priority is to seek redeployment for the staff. The Bank will provide additional resources to help in examining redeployment opportunities. Where redeployment is not possible, staff will be eligible for the Bank’s generous redundancy arrangements including between 6 and 9 weeks paid notice period.

The case before the Industrial Relations Commission has been held over for hearing at a date to be determined.