The Business Times
business-time-50
SUBSCRIBERS

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

Summarise
google-preferred-sourceAdd BT as a preferred source
Renald Yeo

Renald Yeo

Published Thu, Apr 23, 2026 · 07:07 PM
阅读简体中文版 (beta)
    • 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

    TRENDING NOW

    The Monetary Authority of Singapore said it is following up with the three Singapore entities to reinforce its expectations of conduct and compliance.

    Tiger Brokers, Moomoo, Longbridge Singapore units ‘financially independent’ amid China crackdown: MAS

    The departure of food manufacturing operations from Singapore may not necessarily be reason for concern.

    Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned

    KSL's Khoo Lee Feng says it is "not so much what you study, but how you learn".

    Johor property old hand KSL readies family handover amid market boom

    Nuclear power “is very much back in the conversation” in Asia, say industry observers.

    As India and China surge ahead with nuclear energy, all eyes on Asean’s next move

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More