That’s right – everyone from the rank of vice-president and below is reported to be receiving this amount. It is a nice gesture, and perhaps a commitment from the bank that they value their staff.
As part of the SG50 celebrations, DBS said it will be contributing more than S$100m to mark the nation’s celebratory milestone.
Other forms of spending the S$100m will be on programs such as:
• DBS Foundation to support social entrepreneurship (S$50 million)
• DBS Singapore Gallery (S$25 million)
• One-time employee reward linked to SG50 and DBS market cap of S$50 billion (S$18 million, or S$1,000 per employee ranked vice president and below)
• Sponsorship of SEA Games dragon boating and sailing races (S$3.5 million). SEA Games will be held in conjunction with DBS Marina Regatta in late May/early June
• Customer initiatives such as National School Savings Campaign and Child Development Account, which includes a “POSB Smiley Gift Bag” for all Jubilee babies (S$10 million)
Not only that, the bank had affirmed its commitment to promote entrepreneurship and the development of a smart nation over the next 50 years. Already it had reported that programs such as start-up boot camps for budding entrepreneurs is in operation.
I believe tripartite partners will be very pleased, especially the trade unions. Sharing profit with the workers drive everyone to work better, work smarter and be more productive for the benefit of all.
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