'We are deeply disappointed that we are not being valued enough as loyal staff,' one employee said
Disgruntled employees of the Commonwealth Bank of Australia went directly to CEO Matt Comyn this week to air their grievances over pay, job security, and improved working conditions.
The Finance Sector Union (FSU) said its national secretary, Julia Angrisano, hand-delivered a letter addressed to Comyn at the bank's national headquarters in Sydney on Monday, 14 September.
The letter accompanies a petition signed by more than 3,000 CBA workers urging Comyn to improve the bank's pay offer, with more than 1,700 employees sharing their frustrations and stories of financial hardship.
"I want Matt Comyn to read the thousands of comments we've received and tell everyone that he is okay with how his employees are faring," said Angrisano in a statement.
CBA employees who wrote about their financial hardships in the FSU letter are saying they are at risk of being homeless, and have expressed disappointment and feelings of neglect from the bank.
"I could face homelessness if I get one large medical bill, or any unseen expenses. I can't afford to keep up with my medications," one CBA employee said in the letter.
"We are deeply disappointed that we are not being valued enough as loyal staff," another employee said.
CBA said it maintains that its people are at the centre of its success.
"We have put forward a comprehensive proposal covering pay and a range of other employment conditions, which continues to be negotiated," a CBA spokesperson told HRD.
"We look forward to reaching an outcome."
Grievances from employees
CBA's lowest-paid employees are earning $2.82 per hour above the minimum wage of $26.44, according to the FSU.
A report from the Australian Financial Review in August indicated that CBA offered around 70% of its employees on packaged pay arrangements an increase of 8.75% over three years.
But the FSU's latest statement claims that CBA's current pay offer to staff would leave 71% of its Australian workforce receiving a wage increase that is less than inflation in the first year.
Another 47% would also receive no guaranteed wage increase or a total of 2.5% over the next three years.
"CBA's current offer rubs salt into employees' wounds and only widens the already obscene pay disparity between management and the workers," Angrisano said.
Comyn's remuneration rose to $9.1 million in 2026, up 30% from the $7 million that he received in the previous year, according to the AFR.
The bank's profit for FY2025-26 also reached $10.98 billion on a cash basis, up seven per cent on the prior year, based on its latest financial report.
The FSU said CBA employees are asking for a five per cent annual pay increase, or CPI if greater, and they want guarantees on job security, workplace flexibility, as well as safe staffing and workloads.
"CBA can afford to do better... its workers certainly deserve better," Angrisano said.
