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July 14, 2024

Metrobank to increase workforce by 6% this year

Metropolitan Bank & Trust Co. (Metrobank) led by bankero Fabian Dee is increasing its workforce by six percent to 14,451 employees this year from last year’s 13,651.

The Ty-led bank’s rank and file employees is seen growing by 11.2 percent to 7,678 this year from a year-ago level of 6,903, while the number of officers with a rank of manager or lower would rise to 6,204 from 6,158.

On the other hand, the listed bank is trimming the number of officers with a rank of assistant vice president and up by 3.6 percent to 569 in 2022 from 590 in 2020.

Majority of Metrobank’s rank and file employees are members of the employees’ union. The benefits or incentive arrangements are covered by the Collective Bargaining Agreement (CBA) that is effective for three years.

“The latest CBA that is effective for three years beginning January 2022 will end in December 2024,” the bank said in its annual report.

The country’s third largest lender in terms of assets continues to ensure that its employees are properly compensated.

As a result, the bank owned by the family of the late taipan George SK Ty as not experienced any labor strikes and the management of the bank considers its relations with its employees and the union to be harmonious.