, Singapore
2285 views

OCBC gives S$9m support to 14,000 junior employees

Payouts will be made between February to March 2024.

OCBC is giving a one-off S$9m support to its 14,000 junior employees globally to help cope with rising cost-of-living oncerns.

The employees will include those from its subsidiaries in Bank of Singapore, OCBC Securities, and Great Eastern Holdings. It will benefit approximately 40% of OCBC Group’s overall headcount in 19 markets.

Payouts will be made from February to March 2024.

In Singapore, 4,600 junior employees will receive S$1,000 each. They include new entrants to the workforce and unionised employees. 
  
“The amount, for each of the 14,000 who will benefit, may not be large. However, we hope that this can help colleagues defray concerns on the rising cost of living,” said Lee Hwee Boon, OCBC’s head of group human resources.

“Beyond this, we recognise that the long-term solution is to empower colleagues to take charge of their own financial well-being–good financial planning can make a big difference amid inflationary pressures. To that end, we offer a range of resources and regular workshops to help strengthen their financial preparedness,” Lee added.

Follow the links for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Singapore's maritime cluster navigates towards digital, green future
Adapting to emerging challenges, such as the adoption of alternative fuels, is deemed crucial for the country's maritime sector.
Shipping & Marine
GDSC set to boost green jobs, health, and economic growth
It is forecasted to create over 700 new job opportunities in zero and near-zero emission fuel production.
Shipping & Marine