Australia’s Westpac to pay $5.5 million for staff underpayment

(Reuters) – Australia’s Westpac Banking Corp on Friday said it will have to pay A$8 million ($5.54 million) to around 8,000 employees who were found to have been underpaid their long service leave entitlements due to calculation errors.

“We apologise to anyone impacted by these errors and our priority is to make payments as soon as possible,” Alastair Welsh, Group Executive, Enterprise Services said.

(Reporting by Shriya Ramakrishnan in Bengaluru; Editing by Shri Navaratnam)