CIMB Singapore layoffs: Unions were given notice

The affected employees will be provided support and advice in the areas of employability training, career coaching and job placement.

Representatives from Singapore's Banking and Financial Services Union (BFSU) and Singapore Bank Employees’ Union (SBEU) have confirmed that CIMB Singapore management had given prior notice to them on the bank’s retrenchment exercise. Since then, BFSU and SBEU have worked closely with the management to negotiate for a fair compensation package for the affected employees.

The statement, shared by Patrick Tay, Executive Secretary, BFSU, and Max Lim, President, SBEU, noted that BFSU and SBEU leaders, as well as representatives from NTUC’s e2i (Employment and Employability Institute) and the Institute of Banking and Finance (IBF), will provide support, advice and assistance to affected employees in the areas of employability training, career coaching and job placement.

It added: "BFSU and SBEU will give union members our support and assistance during this trying period. The unions’ key priority is to assist our members; help them find jobs; and ensure that they are treated fairly and with dignity during the exercise."

Photo / 123RF