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Westpac backpaying employees $6m as FWO 'sharpens tools'
Westpac has entered into an enforceable undertaking and is backpaying employees $6 million after self-reporting that it had underpaid long service leave entitlements.
Due to payroll system errors, the bank failed to accurately calculate employees' overtime work, average weekly hours, bonuses, commissions and sick leave when determining how much long service leave to accrue to employees.
Westpac also placed some employees on the wrong long service leave plan and did not properly apply entitlements under the National Employment Standards.
Meanwhile former Fair Work Ombudsman Natalie James says FWO is being more proactive in its enforcement and compliance activities, and large corporations are under the microscope now more than ever.
After analysing its latest annual report, James notes that in the past financial year the FWO recovered $148 million from underpaying employers...
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