National Australia Bank (NAB) faces a financial impact of A$130m due to staff underpayments. The bank’s internal review revealed payroll discrepancies, leading to a 4.5% increase in operating expenses. NAB is actively remedying the situation, but the exact number of affected employees remains undisclosed.

NAB group executive Sarah White apologized to staff for the errors, emphasizing the importance of paying colleagues correctly. The bank’s payroll issues, initially uncovered in 2019, have resurfaced, prompting further investigation and remediation efforts. NAB is working with relevant authorities and unions to address concerns.

Criticism has arisen from the Finance Sector Union, labeling the underpayments as “systemic wage theft.” The union’s national president condemned NAB for taking funds from workers during challenging times. Additionally, NAB and its subsidiary AFSH have been fined A$15.5m for inadequately assisting customers in financial distress.

Read more at Yahoo Finance: NAB to take A$85m hit this year over staff underpayments