Connect with us


Ambank Employees’ Jobs in Jeopardy as Bank to Retrench Staff Via MSS


Ambank Employees' Jobs In Jeopardy As Bank To Retrench Staff Via Mss - World Of Buzz
Source: Allen International

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

Looks like it’s time for Ambank employees to search for new jobs! AMMB Holdings Bhd (AmBank Group) has recently announced that they are trimming their headcount and cutting more jobs recently.

The Edge Markets reported that on January 8, employees of AmBank Bhd, AmInvestment Bank Bhd and AmBank Islamic Bhd received an email saying that the group will be launching a mutual separation scheme (MSS). The email urged employees who wanted to leave the company to apply for the scheme, which would be available until January 19. 

While they stressed that the scheme is purely voluntary, Ambank said that they want to get leaner and more streamlined. Uh-oh! FYI, Ambank is the sixth largest banking group in Malaysia and has about 11,600 employees; but they refused to disclose how many jobs they plan to cut under MSS.

Ambank Announces They Are Cutting Jobs Using Mss To Improve Efficiency - World Of Buzz 1

Source: the star

A statement to The Edge Financial Daily said, “As part of AmBank Group’s four-year strategic transformation agenda, we have been reviewing our organisational structure for optimal efficiency. We have now streamlined and centralised some of our processes and the MSS will allow us to further optimise the group’s organisational structure.”

“In addition, over the past year, we undertook engagements with employees and have received queries on the possibility of a separation scheme from some staff members who wish to pursue other opportunities after being with us for some time. Clearly, the timing is now right for the AmBank Group to undertake the MSS, which is offered purely on a voluntary basis and provides eligible employees the opportunity to pursue their career goals beyond the bank,” the statement said.

Ambank’s goal is to be one of the top four banks by 2020 and also one of the best employers. After their merger talks with RHB fell through in August last year, this MSS is not exactly surprising as group chief executive officer Datuk Sulaiman Mohd Tahir had said that there will be a “job rationalisation”.

Other banks have been doing the same too in recent years, as CIMB Group had previously cut off 1,891 employees in July 2015 after they opted for MSS.  RHB also performed a headcount trim in the same year in a career transition scheme by laying off 1,812 permanent employees.

Well, maybe they can apply for the Employment Insurance Scheme from the government too!


Also read: Retrenched M’sian Employees Can Get Up to RM600 Allowance/Month in 2018

M'sians Who Get Retrenched Can Receive Up To Rm600 Allowance/month In 2018 - World Of Buzz 4

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

Just In

Igp Clarifies Pdrm License Senior Citizen Igp Clarifies Pdrm License Senior Citizen
News18 hours ago

IGP Clarifies That PDRM Never Discussed Limiting Driving Licence To Senior Citizens

The Inspector-General of Police (IGP), Datuk Seri Acryl Sani Abdullah yesterday clarified that the proposal to limit the issuing of...

Dead Penyu Found On Terengganu Beach Dead Penyu Found On Terengganu Beach
News18 hours ago

Female Turtle Found Dead In Terengganu, Allegedly Drowned When It Was Trapped In A Net

As human beings slowly getting back to living normally, sadly, our effects on nature come with it too. The latest...

State Ft State Ft
News22 hours ago

Senior Minister: Interstate Travel May Be Allowed In 3 Weeks

Malaysians may soon be able to travel across states, according to Senior Minister Dato’ Seri Hishammuddin Tun Hussein. According to...

Pdrm Suggests Senior Citizens Be Assessed Before Renewing Drivers License Pdrm Suggests Senior Citizens Be Assessed Before Renewing Drivers License
News2 days ago

PDRM Proposes ‘Ability To Drive’ Assessment For Senior Citizens Before They Can Renew Their License

PDRM has suggested that the government needs to set a new requirement for senior citizens before they can renew their...

Sri Lankan Shaman Dies Of Covid 19 Sri Lankan Shaman Dies Of Covid 19
News3 days ago

Sri Lanka’s Famous Shaman Who Allegedly Claims He Could Cure Covid-19 Dies Due To The Virus

A high-profile shaman from Sri Lanka who claimed he was able to stop the spread of the virus in his...

Az Gap Decreased To 6 Weeks Az Gap Decreased To 6 Weeks
News3 days ago

YB Khairy: Interval Between 1st & 2nd Doses Of AstraZeneca Vaccine Shortened To 6 Weeks

The Minister of Health, YB Khairy Jamaluddin informed that the period between the first and second doses of the AstraZeneca...

Skid Skid
News3 days ago

Lorry Driver High On Drugs Falls Asleep On The Wheel & Loses Control Of Vehicle On NKVE

A lorry driver lost control of his vehicle after falling asleep on the wheel and skidded on the NKVE heading...

My Post 2021 09 24T142119.604 1 My Post 2021 09 24T142119.604 1
News3 days ago

M’sian Man In Somalia Sentenced To 15 Years In Jail For Assisting Terrorist Organisation

A 34-year-old Malaysian man named Ahmad Mustakim Abdul Hamid, was sentenced to 15 years in prison by a Somali military...


Latest Videos