RHB Capital Bhd (RHB Cap) is set to be the second financial institution in Malaysia to launch a retrenchment drive this year to rationalise costs, Maybank Investment Bank Research said.
The fourth-largest lender in Malaysia by assets is reportedly looking to cut its headcount by about 15%, or 2,700 people, via a career transition scheme (CTS), with a compensation scheme of 1.25 times basic salary. RHB Cap has total staff strength of 18,000, it said.
“RHB Cap’s move follows in the footsteps of CIMB Group Holdings Bhd, which recently saw the rationalisation of 11.1% of its total workforce via a mutual separation scheme (MSS),” Maybank Research said.
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The fourth-largest lender in Malaysia by assets is reportedly looking to cut its headcount by about 15%, or 2,700 people, via a career transition scheme (CTS), with a compensation scheme of 1.25 times basic salary. RHB Cap has total staff strength of 18,000, it said.
“RHB Cap’s move follows in the footsteps of CIMB Group Holdings Bhd, which recently saw the rationalisation of 11.1% of its total workforce via a mutual separation scheme (MSS),” Maybank Research said.
For Free Signals, click here KLSE online OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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