Now we have career transition scheme

A man on a mobile phone enters the Maxis office in Kuala Lumpur City Centre. Filepic

WHEN big mergers happen, there are often job cuts that ensue. This has been seen it in our banking sector, where after the merger of two banks, the new entity has to strive to achieve synergistic benefits, including letting go of redundant employees.

And they have nice names for these exercises, too. Downsizing, rightsizing, mandatory or voluntary separation schemes, just to name a few. And here’s one to add to that list – career transition scheme (CTS) – as announced this week by leading telco Maxis Bhd.