SCB union demands a review of pay rise and bonus schemes

The labour union of Siam Commercial Bank (SCB) has called on the bank’s management to review its salary increase and bonus schemes after it was discovered that about 20 percent of the staff were excluded from the schemes.

The union also expressed concern over the management’s organizational restructure plan which will lead to the downsizing of the bank, with the number of branch offices to be reduced to 400 from 1,100 countrywide and the cutback of staff from 27,000 at present to about 15,000 within three years.

SCB union leader president Vaidhit Sirisuwan said that although the management had sought a meeting with the union’s representatives on Monday (Jan 29) to discuss the two issues, he was not convinced that the management would heed the union’s demands.

He claimed that about 5,000 staff members, representing about 20 percent of the bank’s work force,  were disappointed that they were not entitled to pay hike and bonus payment after they were graded of being under-performed although, as a matter of fact, their average performance was above the average performance of the banking industry.

Mr Vaidihit said the union was collecting information from staff members who were to be shifted to other jobs as part of the bank’s restructure plan.

SCB president and CEO Arthid Nanthawithaya earlier stressed the need of organizational restructuring in order to remain competitive amidst the rising tide of digital banking.