UOB staff get SG50 leave and cash gift
Singapore
IN yet another move to mark Singapore's 50th birthday, United Overseas Bank (UOB) has given all its employees in Singapore an extra day of annual leave.
About 7,500 employees ranked vice-president and below will also receive a S$1,000 cash gift.
Calling it a gesture that went beyond cash, UOB deputy chairman and chief executive officer Wee Ee Cheong said: "We all appreciate the importance of spending time with our loved ones, more so on big occasions. As SG50 is an historic moment in time for Singapore, we wanted our employees to be able to extend their celebrations with family and friends, whether they take the day off to coincide with this long weekend or any other time this golden jubilee year."
The cash gift will be credited to employees' bank accounts on Aug 15.
"Throughout the year, UOB has also been engaged in several SG50 activities, starting with its partnership with the National Gallery Singapore to promote the world's largest collection of South-east Asian modern art," said UOB.
Among other companies and organisations that have announced reward initiatives to mark SG50 are Singapore's two other banking groups - Oversea-Chinese Banking Corporation (OCBC) and DBS Group Holdings.
As part of a S$5 million gift package, OCBC Bank is giving about 8,000 employees in Singapore an exclusive OCBC SG50 Nets Flashpay card with S$100 in preloaded credit, as well as a package of family and staff benefits. About 3,000 junior executives and unionised employees will each also receive 100 OCBC shares.
DBS announced as early as February a gift of S$1,000 for each of 18,000 employees ranked vice-president and below. This is to celebrate SG50 and also for reaching S$50 billion in market capitalisation. DBS said later that the money came from the bonus pool of senior managers.
