RHB: We don't set target for career transition scheme

PETALING JAYA: RHB Capital Bhd said it does not set targets for its career transition scheme (CTS) as it is voluntary in nature.
“As such there is no definitive target on the number of staff that the Group will be releasing under the CTS,” it said in a statement last Friday.
RHB noted that its primary focus is to strengthen fundamentals, improve productivity and optimise manpower in order to remain relevant, competitive and resilient.
It was earlier reported that RHB is looking to reduce its staff strength by 15% or about 2,700 via the CTS. The compensation is expected to be 1.25 multiplied by basic salary.
Using CIMB Group Holdings Bhd as the benchmark, Maybank Investment Bank Research said the CTS could cost RHB RM332 million but would save it up to RM219 million each year moving forward.
CIMB Group saw the rationalisation of 11.1% of its total workforce via a mutual separation scheme.