Workforce projected to fall to 15,000
SCB's vision was announced in 2020, with employee numbers set to be reduced as it shifts towards the digital age.
Siam Commercial Bank (SCB) has no plans to recruit new employees to replace staff leaving through attrition, targeting a workforce of around 15,000 employees by the end of next year.Following a recent meeting between the bank's management and the SCB labour union, the bank expects its total workforce to decline to around 15,000 by 2027, according to a post on the union's Facebook page.
Arthid Nanthawithaya, chief executive of SCB X, the holding company of SCB, said the bank currently employs around 17,000 staff and is unlikely to hire additional employees to replace those leaving through turnover.
"We have maintained an attrition rate of more than 10% per year, and the level is expected to continue supporting the workforce plan," Mr Arthid said.
