KUALA LUMPUR, Sept 3, 2015:

RHB Capital Bhd has become the second member of the tripartite bank merger plan that unravelled earlier this year to look at voluntary staff cuts – with a career transition scheme offer that opened yesterday until Sept 23.

CIMB Group Holdings Bhd became the first member of this bank trio to announce a similar voluntary staff cut – its mutual separation scheme was completed in July with 1,891 employees in Malaysia and 1,708 in Indonesia leaving – costing the financial group RM443.3 million.

Only Malaysia Building Society Bhd hasn’t announced a similar staff cut, despite reporting a 50.4% lower pretax profit for the first half ended June 30, 2015 on a 8.8% higher revenue.

CIMB Group’s first half pretax profit fell to RM1.71 billion from RM2.71 billion previously while revenue grew slightly to RM7.51 billion from RM6.95 billion before. RHB’s first half pretax profit dipped to RM1.34 billion from RM1.38 billion before while revenue rose to RM5.34 billion from RM4.85 billion previously.

When contacted, a RHB spokesperson said: “The scheme is available to all permanent and confirmed staff within the Malaysia operations.

“RHB will provide appropriate training to successful applicants to facilitate their transition into their next career move.”

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