NAB to pay $170m to 66,000 staff after years of wage underpayment
Detailed summary
National Australia Bank has agreed to pay almost 66,000 underpaid workers as part of an agreement with the Fair Work Ombudsman.
The National Australia Bank will pay thousands of employees nearly $170m after years of underpaying staff.
The big four bank is completing payments of $127m, plus $34m in interest and $8m in superannuation, to 65,999 underpaid workers as part of entering into an enforceable undertaking with the Fair Work Ombudsman.
The bank will also make a $2m contrition payment to the commonwealth consolidated revenue fund.
“The contrition payment is the largest ever included in an enforceable undertaking executed by the Fair Work Ombudsman,” the ombudsman said on Thursday.
“NAB’s undertaking also includes terms never before included in a FWO EU that commit it to comprehensive planning and implementation of any future enterprise agreement.”
The ombudsman said NAB had committed “to a range of measures aimed at ensuring it complies with workplace laws in future”.
Originally published as NAB to pay $170m to 66,000 staff after years of wage underpayment
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