The hiring freeze will last until December 2021.
UOB has imposed a freeze on hiring, pay and promotions as it braces itself for decline in earnings amidst the pandemic, reports Bloomberg.
The bank said that it expects the outlook to worsen before eventually improving when the government slashes some of its support, an internal memo said.
The hiring freeze will last until December 2021, and any exceptions will need senior approval. Salary increases and promotions will be put on hold until further notice.
You can find the original article here