UOB, OCBC junior staff to get one-off payments to cope with expenses

UOB will make a one-off payment to junior employees to help them cope with day-to-day expenses, joining its local peer OCBC Bank in doing so.

- Sheila Chiang

About 6,000 eligible junior employees across the group can expect to receive a one-off extra month of bonus, to be paid out by April 2025. This plan is expected to cost the bank up to $8 million, UOB said in a statement on Dec 23.

This is the second time UOB is giving out an additional month of bonus, following its February announcement where junior staff across the group were given an extra month of bonus.

Mr Dean Tong, head of group human resources at UOB, said they are "cognisant that even though inflation rate has moderated, cost of living remains elevated".

"The Group will continually review and enhance our wage structure to ensure that it is fair and competitive. This is complemented with our holistic range of perks and benefits that are sustainable for the long term, including enhanced medical support, training programmes and staff housing loans," Mr Tong said.