The Business Times
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DBS, OCBC, UOB shed nearly 3,000 jobs in 2025 amid restructuring, productivity push

Combined, the three lenders employed 104,266 people at end-2025, down 2.6% from the year before

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Renald Yeo

Renald Yeo

Published Thu, Apr 23, 2026 · 07:07 PM
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    • The three banks have not said whether temporary or permanent staff were more affected by the headcount reductions.
    • The three banks have not said whether temporary or permanent staff were more affected by the headcount reductions. PHOTO: BT FILE

    [SINGAPORE] The combined workforce of Singapore’s three local banks – DBS , OCBC and UOB – shrank by nearly 3,000 roles in 2025, mirroring broader trends across the global banking sector amid restructuring and productivity efforts.

    The three lenders employed 104,266 people at end-2025, down 2.6 per cent – or 2,806 employees – from 107,072 at end-2024, based on Bloomberg data and the banks’ annual reports.

    DBS accounted for about three-fifths of the total decline. Its workforce fell 3.9 per cent, or 1,624 employees, to 39,721 at end-2025.

    Singapore banksBankingDBSOCBCUOBSingapore manpowerJobsjob cuts

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