Restructuring in the Australian banking industry

Littler, Craig R. and Maguire, Heather (2001) Restructuring in the Australian banking industry. In: Downsizing: is it working for Australia? University of Melbourne, Melbourne, Australia, pp. 24-47. ISBN 0-7340-1511-9

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Abstract

Restructuring in the finance sector has involved significant change in workforce levels, layers of management, career structures and the type and nature of services provided to the community. Utilising quantitative and qualitative data from a survey of managers in one large bank plus a national survey of finance employees conducted in 1997, this chapter provides an overview of the sectoral changes. In banking the traditional employment relations are crumbling. However they have not been replaced by new human resource management strategies and for much of the 1990s the big four banks appeared uncertain how to proceed in the changing environment. The focus of this chapter is primarily on the Australian banking sector, especially the big four banks. However, significant data and comparisons are made with the rest of the finance sector. The layout of the chapter is as follows. The causes of restructuring within the banking industry are briefly discussed in the next section. The focus then shifts to employment trends in the finance sector. Thirdly, we discuss restructuring and HR strategies and employment relations, and we then examine patterns of change in one of the big four banks as a case study of the dynamics of change and an illustration of the general issues. In particular, the case study of Onebank raises the issue of how to manage restructuring.


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Item Type: Book Chapter (Commonwealth Reporting Category B)
Refereed: Yes
Item Status: Live Archive
Additional Information: COPYRIGHT All rights reserved. Apart from fair dealing for the purposes of research or private study, or criticism or review, as permitted under the Copyright Act 1968, no part of this publication may be reproduced, stored or transmitted in any form or by any means without the prior permission in writing of the Publisher. Print copy held USQ Library at call no. 658.31340994 Dow.
Depositing User: Dr Heather Maguire
Faculty / Department / School: Historic - Faculty of Business - Department of Management and Organisational Behaviour
Date Deposited: 13 Feb 2008 04:55
Last Modified: 20 Dec 2013 02:28
Uncontrolled Keywords: Australia; banking industry; restructuring; redundancies
Fields of Research (FOR2008): 15 Commerce, Management, Tourism and Services > 1502 Banking, Finance and Investment > 150203 Financial Institutions (incl. Banking)
17 Psychology and Cognitive Sciences > 1701 Psychology > 170107 Industrial and Organisational Psychology
15 Commerce, Management, Tourism and Services > 1503 Business and Management > 150305 Human Resources Management
Socio-Economic Objective (SEO2008): B Economic Development > 90 Commercial Services and Tourism > 9001 Financial Services > 900101 Finance Services
URI: http://eprints.usq.edu.au/id/eprint/3846

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