SCB to hold urgent meeting with union on restructuring

Chief executive officer of Siam Commercial Bank plans to meet the bank’s labour union leader on Monday (Jan 29) to clarify the bank’s earlier announced policy to downsizing the branches and scaling down staff.

The urgent meeting was moved from the earlier scheduled 2 pm to 11 am today after the SCB union leader Vaidhit Sirisuwan demanded the meeting with its CEO for explanation further on the policy.

Mr Vaidhit said the labour union did not oppose the downsizing of the current 1,153 branches to 400, and scaling down workforce by half to 12,000, but wanted the bank to offer more choices to the employees who are to be affected by the bank’s 3-year major restructuring programme.

He said he understood the change was necessary, but employees should be given choices to work on right jobs they have skills, and early retirement compensation packages if they could not adapt themselves to the change.

Earlier SCB president and CEO Arthid Nanthawithaya said the increasing online transaction has affected the bank’s earning from fees by 30% of its net profit margin, prompting the need to revise it’s business strategy this year.

Downsizing will be the priority, as well as reducing marketing campaign activities to promote personal loans which remains competitive, he said.

Source: Thai Public Broadcasting Service (Thai PBS)

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