Singaporean banks OCBC and UOB are providing one-off payments to their junior employees to help address rising cost-of-living pressures. OCBC will distribute a total of S$7.5 million to nearly 11,000 employees across its subsidiaries, including Bank of Singapore and OCBC Securities. In Singapore, about 4,000 junior employees will receive S$1,000 each. UOB, on the other hand, will offer an additional month's bonus to its approximately 6,000 eligible junior employees, amounting to up to S$8 million.
OCBC and UOB will give a one-off payment to their junior employees to help alleviate cost-of-living pressures, the two banks announced on Monday, Dec 23, 2024. , Singapore banks OCBC and UOB will give one-off payments to their junior employees to help alleviate cost-of-living pressures, the two banks said on Monday .
OCBC said that for its employees outside Singapore, the one-off support takes into consideration the respective local market conditions. Eligible eIn response to CNA's queries, UOB said on Monday that it will provide its junior employees with an extra month of bonus to help them cope with their day-to-day expenses.
When asked if DBS would be providing a one-off bonus to its employees, it said: "DBS is committed to ensuring our employees are well-supported through our holistic employee value proposition.expected to decline in 2025 "Beyond that, we are committed to providing upskilling and reskilling opportunities to ensure that our colleagues are equipped to meet the challenges of the future, while also empowering them to take charge of their own financial well-being."
COST-OF-LIVING SINGAPORE BANKS EMPLOYEES BONUS
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