SCB union demands a review of pay rise and bonus schemes

 

 

The labour union of Siam Commercial Bank (SCB) has called on the bank’s management to review its salary increase and bonus schemes after it was discovered that about 20 percent of the staff were excluded from the schemes.

 

The union also expressed concern over the management’s organizational restructure plan which will lead to the downsizing of the bank, with the number of branch offices to be reduced to 400 from 1,100 countrywide and the cutback of staff from 27,000 at present to about 15,000 within three years.

 

SCB union president Waitit Sirisuwan said that although the management had sought a meeting with the union’s representatives on Monday (Jan 29) to discuss the two issues, he was not convinced that the management would heed the union’s demands.

 

Full story: http://englishnews.thaipbs.or.th/scb-union-demands-review-pay-rise-bonus-schemes/

 

 

-- © Copyright Thai PBS 2018-01-28

 

Quote

...with the number of branch offices to be reduced to 400 from 1,100 countrywide and the cutback of staff from 27,000 at present to about 15,000 within three years.

That's a BIG reduction in size over a short 3 year period.  Either they are just super fat (really hurting profits) or they have made the decision to shift much more towards "online/machine" banking.

17 hours ago, Pib said:

 

That's a BIG reduction in size over a short 3 year period.  Either they are just super fat (really hurting profits) or they have made the decision to shift much more towards "online/machine" banking.

Was an earlier article about the restructuring as mentioned in the link so guess both -

"SCB president and CEO Arthid Nanthawithaya earlier stressed the need of organizational restructuring in order to remain competitive amidst the rising tide of digital banking."

 

It will presumably lead to longer queues in the remaining branches.....

18 hours ago, Pib said:

 

That's a BIG reduction in size over a short 3 year period.  Either they are just super fat (really hurting profits) or they have made the decision to shift much more towards "online/machine" banking.

Most banks worldwide are cutting staff/branches - now online is so easy and popular it makes sense to cut back fixed overheads