Hong Leong Bank Bhd and Hong Leong Islamic Bank Bhd are offering employees a voluntary mutual separation scheme (MSS) as part of its move to strengthen operational efficiencies.

The MSS, offered to permanent staff at all levels, functions and locations, would create an opportunity for both the bank and employees to gain mutual benefits, Hong Leong Bank said in a statement.

“Against an increasingly competitive environment, we need to strengthen our organisation by enhancing productivity and efficiency.

“We have to continually review our business and adapt to maintain our competitiveness,” said group managing director and chief executive officer Tan Kong Khoon.

Final approval of MSS applications would be based strictly on business and operational requirements.

Hong Leong Bank said revelant authorities and unions had been duly informed of this exercise.

Previously, RHB Capital Bhd and CIMB Group Holdings Bhd also offered retrenchment schemes to their employees.

- Bernama