Full Breakdown
BNZ CEO Dan Huggins Accused of Threatening Annual Leave Cuts
7/8/2026, 12:46:00 AM
Alleged Threat to Annual Leave
A former long-serving BNZ employee says chief executive Dan Huggins warned that the bank would reduce its six-week (30-day) annual leave entitlement if staff did not take the full allocation. A current employee reported hearing a similar comment. BNZ’s chief people officer Matthew Cullum stated the bank “has no plans to change” the leave policy.
Recent Benefit Reductions
In the week before the allegation, BNZ removed account-fee waivers, low-equity-premium waivers, variable home-loan-rate discounts, and its legacy pension scheme. End-of-year bonuses were replaced with salary increases and retirement contributions shifted to KiwiSaver. The Workers First Union, representing roughly 600 staff, says the bank “picks and chooses” benefits on a whim.
Key Figures
- Dan Huggins – BNZ chief executive (appointed Oct 2021).
- Matthew Cullum – Chief people officer, BNZ.
- Callum Francis – National finance organiser, Workers First Union.
- Approximately 600 BNZ employees are covered by the union.
Official Statements & Responses
BNZ, through Cullum, emphasized a “strong benefits package,” citing free health, life and income-protection insurance and confirming the six-week leave remains unchanged. The union, via Francis, described the cuts as unilateral, noting a “top-down” culture that harms staff morale.
Criticism & Opposition
Union officials label the changes an “attack” on entitlements and warn that Huggins’ leadership fosters a “do as we say, not as we do” environment. A former employee called the workplace “toxic” and expressed relief at receiving a redundancy payout.
On-the-Ground Reports
Employees say they learned of the benefit cuts from media reports rather than internal briefings, highlighting a lack of transparency. One staff member noted that many colleagues only discovered the changes after reading the Herald article.
Conflicting Reports & Gaps
BNZ asserts there are “no plans to change” the annual leave policy, while multiple staff allege a direct threat from Huggins to cut leave. No independent verification of the alleged threat has been provided.
Verbatim Quotes
- “They just couldn’t believe a CEO of a company would say that to you … the fact that he said that threat to his staff was just absolutely unbelievable.” — Former BNZ employee, redundant 2023
- “The six weeks’ annual leave our employees receive is one of the most generous annual leave packages across all the major banks, and among many other employers.” — Matthew Cullum, Chief People Officer, BNZ
- “we have no plans to change it” — Matthew Cullum, Chief People Officer, BNZ
- “They will do what they want, and they will make people do it.” — Callum Francis, Workers First Union national finance organiser
- “One of the biggest concerns we as a union have is that BNZ has behaved under Dan far more like a ‘do as we say, not as we do’ kind of culture,” — Callum Francis, Workers First Union national finance organiser
What’s Next
The union says it will raise the benefit cuts in upcoming collective-bargaining talks. BNZ has not signaled any further changes, but the dispute over leave and other entitlements is likely to shape future negotiations.
