GXS Bank lays off 82 employees after 'strategic business review'

GXS Bank lays off 82 employees after 'strategic business review'

The digital bank will be offering severance and goodwill payments to affected employees, alongside extended medical coverage for three months, career transition support and counselling services.

Digital bank GXS cuts 82 jobs across the group, about 10% of its workforce

Digital bank GXS, backed by Grab and Singtel, has cut 82 jobs across its group, affecting staff in Singapore and India. Read more at straitstimes.com.

GXBank Says Malaysian Operations Unaffected by Parent Group Layoffs

GXBank said its Malaysian operations are not affected by the layoffs announced by its parent group. The clarification follows news that GXS is laying off 82 employees, or about 10 percent of its total workforce, with the cuts taking place in Singapore and India after a group-wide review. The bank said it is adequately staffed and has evolved organically into the structure needed for its current stage of growth. GXBank said in a statement, “The m…

S'pore digital bank GXS lays off 10% of workforce, 82 jobs impacted

Grab and Singtel-backed digital bank GXS will cut 82 jobs or about 10% of its workforce across the group, the Business Times reports. The move was made as part of its transition from the early-stage phase of building a bank to running day-to-day operations, said GXS group chief executive Lai Pei Si in a note to the company. “The roles that are essential as we move forward and focus on running the bank may be different from our build phase,” said…

Digibank Group GXS to Lay Off 10% of Staff Across Singapore, India

Singapore’s GXS, the Grab and Singtel backed digital bank venture, is preparing to lay off staff as part of a shift in its operating model. Information reported by The Business Times indicates that the group is reducing 82 positions across its Singapore and India operations, amounting to about 10 percent of its workforce. The restructuring comes after GXS posted higher net interest income of S$30.2 million for the 2024 financial year, up from S$…