Oversea-Chinese Banking Corp Ltd. will give a one-off payment to junior employees globally for the second year in a row to alleviate ongoing cost-of-living pressures.
An estimated S$7.5 million ($5.5 million) will be handed out to some 11,000 employees across OCBC and its subsidiaries, including Bank of Singapore and OCBC Securities, the lender said in a statement Monday.
The number represents about 40% of OCBC Group’s overall headcount in 17 markets. Eligible employees will receive the payout from February to April 2025.
About 4,000 junior employees will receive S$1,000 each in Singapore. They include new entrants to the workforce and unionized employees, OCBC said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.