DBS to hire more than 2,000 people in Singapore amid COVID-19 economic downturn

Local bank DBS announced on Thursday (May 14) it will hire more than 2,000 people in Singapore this year as it commits to protecting jobs amid the economic downturn caused by the COVID-19 pandemic.

Singapore’s labour market has been under strain from the coronavirus outbreak as businesses announce wage cuts or put employees on no-pay leave.

DBS said in a press release on Thursday that of the 2,000 people it is committed to hiring, more than 1,000 will be in new roles comprising a mix of apprenticeships for fresh graduates as well as more specialised roles for seasoned professionals.

“COVID-19 has been devastating not only to global health, but also to economies and jobs. Job seekers, including fresh graduates this year, are understandably anxious about the dearth of opportunities available as companies tighten their belts,” said DBS CEO Piyush Gupta.

“While DBS is also prudent in our outlook, as a key employer in Singapore, it seemed right to us to not just continue with hiring for business-as-usual activities but also to actively create new jobs where we can, so as to help more people tide through this difficult period,” he said.

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