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The Resolution for Siam Commercial Bank’s labor dispute The Federation of Bank and Financial Worker's Unions of Thailand (FBFT) is the centre of several Trade Unions in Thai banking industry. Siam Commercial Bank Labor Union and Siam Commercial Bank Officer Labor Union are two of FBFT thirteen members. All members always share their happiness and common concern, under the same philosophy of “Protection and Development of Labor Standards” Even though Siam Commercial Bank Public Company Limited has opened its vision of Universal Bank, it is unlikely that the Bank focused attention on good governance and corporate social responsibility. Labor dispute between Siam Commercial Bank and its unions reflects the Bank’s unconscious management. This is the reason why the employees, especially union members, have recently expressed their concern over the image of the Bank. In the past five years, Siam Commercial Bank gained a great number of benefits from its operation and in 2008 the Bank possesses the highest market capitalization and assets in Thailand. Under the unconscious management, Siam Commercial Bank management team may receive great appreciation from the Board Committee for the fact that they succeeded in reducing labor costs for its operation. If the company lacks of social responsibility and human rights awareness, but only focuses on its own benefits, this will become a matter of concern among share holders, clients and employees. However, if the management team and Board Committee became more opened-mind and accept a good practice of capitalism, this labor dispute would be solved with compromise. It is not worth wasting time and money on prolonging the case at the court. In current situation, the employees should get what they deserve. FBFT really hopes that the professional management team reconsiders the solution for this issue and tries to meet the agreement for both parties. |