DBS Cuts a Dozen Jobs at Brokerage Unit
DBS cut at least 12 jobs across Asia at its brokerage unit as the volume of shares traded has declined. The average daily value of shares traded in Singapore dropped to S$1.06 billion this year, a 24% decline from 2013.
DBS Vickers is looking to enhance its effectiveness, efficiency and productivity including reviewing the systems and processes. According to the brokerage, affected employees will have the opportunity to be redeployed within the bank.
News Source: Bloomberg
About DBS Bank
DBS Bank Ltd (SGX:D05) is a Singaporean multinational banking and financial services company. The company was known as The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to reflect its changing role as a regional bank. Founded in 1968, DBS acquired POSB (Post Office Savings Bank) in 1998. With over
280 branches across 18 markets in Asia, DBS serves over four million customers in the three key Asian axes of growth, namely, Greater China, Southeast Asia and South Asia.
- Origin : Singapore
- Assets : SGD 458 billion
- Revenue : SGD 10.8 billion
- Employees : 22,000
Official Website: www.dbs.com
News & Media: Press Release
Updated on 8th August 2016