First Semester 2017, Bank Danamon Cuts 1,683 Employees

Finance

Premium

20/09/2017 16:40 WIB

URL has been copied

Memuat...

Number of Employees of 7 Banks (June 2016 - June 2017)

A Small Font
A Medium Font
A Bigger Font

You are accessing content Single Data Premium.
To continue, please subscribe or buy individually.

Professional

Enjoy premium access with a more affordable price.

Start from

~~Rp300.000~~ 150.000/month

Access more premium content and exclusive features for customers.

Start from

50.000/month

Hanya Rp833 per artikel

More details »

Buy Retail

Read the article immediately “First Semester 2017, Bank Danamon Cuts 1,683 Employees”.

Rp10.000

We accept the following payments:

Some payment methods are still in the process of being activated.

Number of Employees of 7 Banks (June 2016 - June 2017)

Download

Source

A Small Font
A Medium Font
A Bigger Font

Rapid technological advancements have sparked concerns about job losses in the banking sector. Former Citigroup executive Vikram Pandit even predicted that within the next five years, approximately 30 percent of banking jobs will disappear and be replaced by technology. Large banks, such as Bank BCA, are reportedly targeting two smaller banks to develop digital services.

Of the seven largest banks, three reduced their workforce in 2017. One of them is Bank Danamon (BDMN). According to its financial report published in June 2017, the bank, which has assets of Rp 176.1 trillion, reduced its permanent workforce by 1,683 employees to 30,267 from 31,950 at the end of 2016. Meanwhile, Bank BRI recorded an increase of over 1,500 employees in the first half of 2017.

These concerns are not unfounded, as sophisticated digital technology has already claimed victims in the retail sector with the proliferation of online shopping sites. Furthermore, the emergence of financial technology (fintech) will further reduce the need for employees in the banking sector.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."