Breaking News: CIMB Going Down?


Breaking news, literally. One would not usually expect such a post from me but I do find this piece of news disturbing. Malaysian financial services group CIMB has asked its 36,000 employees to consider taking up to six months of unpaid leave as it aims to cut costs in the global economic slowdown, a top official said on March 30. Workers who take up the group’s offer will start their leave from April 1. CIMB Group Chief Executive Datuk Seri Nazir Razak (the brother of our soon-to-be Prime Minister, Najib Razak) said – “How can (this) possibly be called a lay-off? We are not instructing anyone to do anything. We are just giving them an option to apply if they wish to take an extended break. Don’t interpret it any other way,”

Helloooooooo???? How else can we interpret this?

2 Responses to “Breaking News: CIMB Going Down?”

  1. 1 zirconic March 31, 2009 at 10:15 pm

    Scary…hope my company will not have such thing!

  2. 2 BigMacky March 31, 2009 at 10:48 pm


    CIMB, the country’s second-largest bank … scary indeed. Who’s next?

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