COVID-19: DBS Promises No Layoffs, Will Hire Over 2,000 New Staff In 2020


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DBS is protecting jobs and ramping up hiring despite the economic downturn caused by Covid-19.
The bank yesterday (14 May) announced that it will hire more than 2,000 people in Singapore this year.
It also assured its 12,000 existing staff that there will be no layoffs. Employees who are unable to perform their duties due to circuit breaker restrictions will remain on full pay as well.
Of the 2,000 positions it plans to fill this year, half of them are part of business-as-usual hiring, while the other half will be made up of new roles.
About 200 new roles will be offered to fresh graduates and individuals with less than two years of working experience.
Under the SGUnited Traineeships Programme, DBS will also hire 500 graduates from universities, polytechnics, the Institute of Technical Education (ITE) for six to 12-month apprenticeships, with the possibility of full-time conversion.
The remaining new roles are targeted at seasoned professionals, particularly in growth technology areas.
DBS plans to hire 300 people in areas like UX/UI, data science, fraud detection compliance, and consumer and institutional banking technology.
It will also hire and train 60 people in artificial intelligence, cloud computing, full stack development and data analytics.
Its training programmes aim to help seasoned professionals kickstart a technology career in financial services, but will also go a step further to reskill some “without a prior background in technology”.
In addition, DBS will continue to run its annual internship programmes and offer over 400 internship opportunities in 2020.
Said DBS CEO Piyush Gupta: “Job seekers, including fresh graduates this year, are understandably anxious about the dearth of opportunities available as companies tighten their belts.”
“While DBS is also prudent in our outlook, as a key employer in Singapore, it seemed right to us to not just continue with hiring for business-as-usual activities but also to actively create new jobs where we can, so as to help more people tide through this difficult period,” he added.
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