PETALING JAYA: AMMB Holdings Bhd (AmBank), which has completed its mutual separation scheme (MSS) exercise, said it will pay an estimated of RM128 million for the exercise.
AmBank told the stock exchange, a total of 1,123 applications were approved, representing 12% of the group’s permanent workforce.
The group said, employees whose applications were accepted will be released in batches between January and June 2018 in order to ensure a smooth transition process.
The MSS, which was made available to the group’s eligible permanent employees earlier this year, was part of AmBank’s Top Four Strategy to enhance efficiency and productivity within the group.
“To aid employees with this transition, career transition programmes, workshops and on-ground job search support continues to be provided,” it added.