Citi Singapore hands out $1,200 aid to employees

Around 1,600 will benefit from the compensation.

Citi Singapore is giving around 1,600 employees a special one-off compensation award worth $1,200 to help them weather the current economic slump.

Employees with an annual base salary of $70,000 or lower are eligible for the compensation, which is estimated to cost the bank a total of $2m.

Employees will also receive a complimentary insurance coverage in partnership with AIA which will grant them and their dependents hospitalisation income and death benefits until 30 June or 30 days after the DORSCON level becomes Green, whichever is earlier.

They will also enjoy a preferred corporate rate with digital healthcare provider WhiteCoat, an extension of the deadline for the utilisation of carryover leave to 31 December, and a refund of season parking charges in Citi’s main offices for April and May.