Commonwealth Bank Wants Mass Layoffs After Acquisition Of OCBC, Management Ensures Severance Pay Is Safe

Commonwealth (Photo: Antara)

JAKARTA - PT Bank Commonwealth (PTBC) is rumored to be cutting off mass employment (PHK) to 1,146 employees. This follows the 99 percent acquisition of Bank Commonwealth shares by PT Bank OCBC NISP Tbk (NISP).

Responding to this, PTBC Corporate Communications said in a statement that it ensures that all employees affected by mass layoffs get their rights such as severance pay.

"In connection with the plan to merge PT Bank Commonwealth (PTBC) into PT Bank OCBC NISP Tbk (OCBC), management ensures that employees who are laid off get their rights in accordance with applicable laws," the management wrote in a statement received by VOI, Thursday, July 25.

In addition to severance pay, management also said that OCBC still opens opportunities for PTBC employees to be able to join OCBC.

"OCBC actively provides opportunities for employees to join in accordance with each individual's competency and capability," the management continued.

Previously, it was reported that the Secretary General of the All-Indonesian Workers Organization (OPSI) Timboel Siregar said that since the beginning of the acquisition process, 99 percent of the shares were carried out, there was no transparency and did not involve Employee Unions at Bank Commonwealth.

"The employees were suddenly notified on November 16, 2023 that the Commonwealth Bank would be acquired by PT Bank OCBC NISP. The non-transparency caused shocks and unrest among employees," Timboel wrote in an official statement quoted Thursday, July 25.

Dalam perkembangannya, manajemen Bank Commonwealth menetapkan Dana Pension Lembaga Keuangan (DPLK) yang merupakan hak karyawan sejak sepanjang sebelum akuisisi, akan dihitung sebagai bagian dari pembayaran uang severance pay.

"Even though the provisions regarding the DPLK as part of the severance pay have just been born through Government Regulation no. 35 of 2021 does not apply. Moreover, from its extension, the DPLK is a pension, not a severance pay," continued Timboel.

For this reason, OPSI urges the management of PT Bank Commonwealth to separate DPLK. As long as there is no common ground/solution, all forms of layoffs must be prevented unilaterally.

"We urge PT Bank OCBC NISP to require a complete solution to the above problems before actually acquiring PT Bank Commonwealth," concluded Timboel.