All three local banks are offering bonuses or grants to junior employees to help them cope with rising living costs.
United Overseas Bank (UOB) announced on Thursday (February 22) that in accordance with the latest recommendations of the National Wages Council (National Wages Council), in order to help employees cope with the rising cost of living, the bank will provide a one-off additional payment to junior employees of the group. One month bonus. The bonus will be distributed to about 6,000 employees within the group, about 600 of whom are in Singapore.
Overseas Chinese Bank (OCBC) announced on Tuesday (20th) that it will distribute subsidies totaling nearly 9 million yuan to nearly 14,000 entry-level employees around the world. In Singapore, 4,600 junior employees will benefit, each receiving $1,000.
DBS Group (DBS) announced on February 7 that the group will give a bonus to all junior employees, with a total expenditure of 15 million yuan. Junior employees make up half of the group's total workforce.
