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It was swift and unexpected as nobody suspected that heads would roll. But when DBS Bank’s hatchet man wielded the axe last week, 900 heads were on the chopping block. Out of the 900, more than half working in Singapore now have to kiss their DBS careers goodbye.
Splashed all over the front pages of the national dailies last week, it is just the type of negative news that stokes the fi res of pessimism. Though not in the red, the powers that be in one of Singapore’s big three banks deemed it fit to trim staff strength by 6 per cent. The usual official reasons given were "restructuring", "streamlining", "running a tighter ship" and whatever else but reality really kicks in when the bloodletting trickles to the ground.
By all accounts a unilateral decision, staff were stunned by the announcement on 7 November 2008 and DBS Staff Union was informed just three days beforehand after the decision had already been made. All of a sudden, DBSSU staff found themselves busier than usual. Many hours were spent coaching the DBSSU Executive Committee members to handle the situation.
According to DBSSU President Nora Kang: “The announcement really came out of the blue and caught us off-guard. Although there is a standard operating procedure requiring ample consultations between management and union before such action takes place, it was not followed through and the main reason given by HR management was that ‘it was a very last minute painful and hard decision’.
"DBSSU is putting it aside for the time being in order to concentrate on ensuring that proper process, care and fair treatment is given to help the affected union members. After this whole exercise is over, DBSSU will take it up further with DBS."
The job cuts were to be across all ranks and the unfortunate were called in one by one over two days from 13 November 2008 to be given the bad news. Though it’s not of any consolation, Madam Kang said that 88 DBSSU Ordinary Branch members were affected, including those under restricted bargaining.
"The important thing for those affected is to carry on with union membership as it stretches their dollar and there is insurance coverage. There is everything to gain and we will be with them all the way. NTUC is also helping with training programmes and job placements," added Madam Kang, who is also NTUC Vice-President.
Said NTUC Employment and Employability Competency Director Ang Hin Kee: "e2i (Employment and Employability Institute) will provide the necessary intervention for employment and training to help the affected members move across new sectors through available professional conversion programmes. e2i is working together with DBSSU to put in place a series of coaching programmes, training opportunities and conversion options for affected members over the next few weeks."
"From the type of jobs held by bank staff, there is a likelihood that we can move them into the childcare and tourism industries. We are also looking at other sectors. Our target is to help everyone return to the workforce as soon as possible."
 The announcement really came out of the blue and caught us off-guard. Although there is a standard operating procedure requiring ample consultations between management and union before such action takes place, it was not followed through."
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