Citi returning JSS funds; local banks pledge to keep, create jobs

Singapore

CITI Singapore has moved to return to the government the co-funding offered to all companies as a form of wage support amid the Covid-19 outbreak.

The Singapore banks however are understood to be retaining the funding offered under the Jobs Support Scheme (JSS). In response to queries from The Business Times, the banks said more broadly that they are committed to using the government wage support to create new jobs and boost training in this difficult time.

Citi Singapore told staff on Thursday that it will return the JSS funding - estimated to be in the tens of millions…

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