The coronavirus outbreak has affected many aspects of daily life. For DBS, evacuating part of its staff from the Singapore office seems absolutely necessary.
DBS Evacuates 300 Employees
Given how widespread the coronavirus has become, most countries are at risk of sorts. As soon as one infected individual is found in a country, a second one is likely to follow. That is how diseases like these spread, after all.
In the case of the coronavirus, it has become a genuine global threat. China may be the epicenter, but all of its neighboring countries are at severe risk as well. Singapore is one of those regions, as DBS has found out.
One of its employees in Singapore has been confirmed to be infected with the coronavirus. To ensure no one else is affected, the company has begun evacuating its other employees in the region. That means roughly 300 staffers have been evacuated so far.
Prior to that happening, DBS will carry out detailed contact tracing with all employees. Employees will also receive a personal hygiene and protection care pack. That will include masks, hand sanitizers, Vitamin C capsules, and thermometers.
OCBC is Concerned as Well
OCBC, a banking “competitor” to DBS, is taking somewhat similar measures. No employees will be evacuated for the time being. However, they will put together “care packages” for employees. Moreover, they will provide solutions for customers as well, so that they can keep using in-branch services and products without interruption.
Despite the branch-related health concerns, online banking remains unaffected. In fact, the MAS has told banks to expect a big increase in online and digital banking usage. Bills still need to be paid, after all. It also appears that a minor increase in cash withdrawals is taking place.
The long-term economic impact of the coronavirus remains unclear. China expects a very “rough” employment situation for the next several months. The OPEC decided to cut its oil demand outlook significantly already. As the number of infected individuals rises, these concerns will not be alleviated.