International Business & Economy Citi Singapore steps up to address needs of employees during Covid-19

Citi Singapore steps up to address needs of employees during Covid-19

Those who qualify will get $1,200 cash, insurance cover and other benefits

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Singapore has stepped up measures in the battle against Covid-19 by implementing a nation-wide circuit breaker in which schools and non-essential businesses have closed temporarily.

Meanwhile, the Government has announced various measures to help businesses and the people to weather the coronavirus storm. Among companies in the private sector doing their bit to help their employees during this time is Citi Singapore.

According to a report by the Singapore Business Review on Thursday (April 9), Citi Singapore is providing around 1,600 of its employees with a S$1,200 compensation award. The move by the company is estimated to cost S$2 million.

Citi employees with an annual base salary of S$70,000 or less may avail of the compensation award.

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In addition to this, the company has partnered AIA to provide employees with an insurance package which will cover hospitalisation income and death benefits for them and their dependents. The coverage is set to last either until June 30 or until 30 days after Singapore’s Dorscon alert level is lowered back (from orange to yellow) to green.

Citi employees will also be given a special rate for services availed from WhiteCoat, a digital healthcare provider. The deadline for availing of carryover leave has also been extended until Dec 31. Furthermore, Citi workers based in main offices will be given a refund for parking fees which fall under the months of April and May.

According to a report by efinancialcareers, Citi is the largest foreign bank in the country. /TISG

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