Siam Commercial Bank (SCB) has no plans to recruit new employees to replace staff leaving through attrition, targeting a workforce of around 15,000 employees by the end of next year.
Following a recent meeting between the bank's management and the SCB labour union, the bank expects its total workforce to decline to around 15,000 by 2027, according to a post on the union's Facebook page.
Arthid Nanthawithaya, chief executive of SCB X, the holding company of SCB, said the bank currently employs around 17,000 staff and is unlikely to hire additional employees to replace those leaving through turnover.
"We have maintained an attrition rate of more than 10% per year, and the level is expected to continue supporting the workforce plan," Mr Arthid said.
According to SCB's 2025 annual report, the bank's total workforce declined to 17,945 employees, down from 19,378 in 2024 and 19,839 in 2023. Manpower had been managed efficiently, in line with the bank's plans without compromising operational effectiveness, the report noted.
Work process improvement programmes and related initiatives are being implemented to optimise performance.
"Given the organisational restructuring efforts, the bank does not aim to reduce headcount and there are no plans to reopen the voluntary separation or early retirement programme," the labour union's Facebook page reported.
Employees wishing to continue working with the bank will receive support. Meanwhile, those preferring to leave may negotiate mutually agreed separation packages.
The union stated that technology development, artificial intelligence (AI) adoption and the emergence of virtual banks could affect workforce levels in the years ahead as competition in the banking industry intensifies.
SCB, Thailand's fourth-largest lender by total assets, has introduced several programmes to help employees train for and transition into new roles. These initiatives include the "Work Plan" and "SCB Be With You" programmes, which are designed to help employees develop new skills and move into positions that remain in demand.
In cases where business units are dissolved or merged, or branches are closed, the bank will provide support measures, including redundancy arrangements and a mutual separation plan. The labour union said these measures are intended to assist employees who are unable or unwilling to transition into new roles within the organisation.
During the meeting, the union also asked the bank to review and improve transition arrangements for call centre staff affected by workforce reductions resulting from the implementation of AI and robotic technologies. The bank acknowledged the concern and agreed to consider appropriate improvements.
In related news, SCB X is preparing to launch a virtual bank named Bank X in collaboration with KakaoBank and WeBank by the end of this year.
