Bank Permata denies plan for layoff

Jakarta (Antara News) - Publicly-listed Bank Permata on Friday denied a report that it would lay off some of its employees for productivity reasons.

It was too early for the bank to come to a decision to cut its personnel in order to improve its performance, the bank`s vice president, Imam Teguh Saptono, told the Jakarta Stock Exchange (JSX).

The bank was in the middle of reviewing its organizational structure, employees` productivity, capacity planning and business performance in the face of global competition, he said.

"The program is aimed at creating sustainable superior performance in the face of global competition in the industrial sector in the future," he said.

The bank has conducted a pilot project of the program in its 40 branches in Jakarta, Bandung, Surabaya and Medan, he said adding that the results of the program had improved the bank`s performance by more than 30 percent in 20 weeks.

"Today the program has been carried out in all Bank Permata`s offices. The study to improve Bank Permata`s productivity is being implemented and that is why it is too early to make a decision to cut its personnel," he said. (*)
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