Oversea-Chinese Banking Corp Ltd. will give a one-off payment to junior employees globally for the second year in a row to alleviate ongoing cost-of-living pressures.
An estimated S$7.5 million ($5.5 million) will be handed out to some 11,000 employees across OCBC and its subsidiaries, including Bank of Singapore and OCBC Securities, the lender said in a statement Monday.
The number represents about 40% of OCBC Group’s overall headcount in 17 markets. Eligible employees will receive the payout from February to April 2025.
About 4,000 junior employees will receive S$1,000 each in Singapore. They include new entrants to the workforce and unionized employees, OCBC said.
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