The Government’s Savings Bank has set aside a 2.6 billion baht fund for its early retirement programme in order to rejuvenate and re-energize the organization
GSB managing director Chartchai Payuhanavichai said Thursday that the early retirement programme was meant for employees who are over 50 years old with poor health and unable to cope with modern working conditions.
He expected about 600 employees to join the programme each of whom will receive a compensation amounting to 32 months of their last salaries.
Mr Chartchai explained that the early retirement programme was a part of the bank’s policy to rebrand its image and to rejuvenate the organization. Currently, the bank is employing about 20,000 staff half of whom are less than 30 years old.
He said that the bank expected to cut costs by about one billion baht in three years and, in the long run, its operating costs would be lower.