To ease the pressure of the impact of coronavirus, Citi Singapore has committed to giving some 1,600 of its employees a total of S$2mn in a one-off special compensation award.

The bank announced that this is part of a global initiative that recognizes the economic hardship that its employees may encounter during the current crisis and aims to help those who are most likely to be impacted.

Employees who earn an annual base salary of S$70,000 or less are eligible for this award and will receive the one-off compensation of S$1,200, which will be credited into their Citibank accounts in April 2020.

The special compensation award will benefit more than 75,000 of Citi’s employees globally.

The bank is also providing additional benefits to its Singapore workers such as complimentary insurance coverage from AIA, as well as the corporate rate for medical teleconsultation services at Whitecoat, a digital healthcare provider.

The bank is extending the deadline for employees to utilize their carry-forward leave to December 31, 2020, from March 31. However, they will not be able to take time off for overseas vacations due to Covid-19 travel restrictions.