Economic Observer reporter Cai Yuekun"**30%, 50% of the company's senior executives, 30% of the middle-level, 5%-10% of the grass-roots level. "At the beginning of 2024, a rumor about Minmetals International Trust *** hereinafter referred to as "Minmetals Trust") circulated in the market. On January 10, 2024, a reporter from the Economic Observer Network interviewed Minmetals Trust for verification of the above rumors, and received a response from the relevant person in charge of Minmetals Trust.
On January 11, the relevant person in charge of Minmetals Trust replied to the reporter that recently, the company has monitored the false remarks related to "Minmetals Trust has made substantial layoffs", and the company attaches great importance to this. Such statements are not objective. As a trust company with the background of a central enterprise, the company has always strictly implemented the requirements of supervision and the State-owned Assets Supervision and Administration Commission, operated in compliance with regulations, and carried out business legally.
The person in charge said that Minmetals Trust has thoroughly implemented the requirements of the Notice on Matters Concerning the Adjustment of the Classification of Trust Business issued by the former China Banking and Insurance Regulatory Commission in 2023, adhered to compliance first, took the lead in setting an example, and promoted the transformation of business development logic to "customer-centric, asset allocation as a means, and precise service as the guidance", and at the same time strictly implemented the rectification requirements of the regulatory authorities on the number of non-local business departments of trust companies, and reshaped the company's organizational structure. Reasonable personnel adjustments and team consolidation were carried out.
In addition, in response to the rumors of salary cuts, Minmetals Trust did not deny it.
Minmetals Trust's annual report shows that from 2018 to 2022, the company had 450, 671 and 666 employees, respectively. It is not difficult to find that in 2019 and 2020, the number of employees of the company increased significantly, increasing by 110 and 88 respectively.
Correspondingly, from 2018 to 2022, Minmetals Trust's operating income was 293 billion yuan, 415.7 billion yuan, 516.4 billion yuan, 459.7 billion yuan, 35$9.2 billion; The net profit was 171.7 billion yuan, 210.5 billion yuan, 278.4 billion yuan, 236.2 billion yuan, 177.6 billion yuan. Judging from the data, in 2019 and 2020, Minmetals Trust's revenue and net profit achieved good growth, while from 2021, its revenue and net profit have gradually declined.
The relevant person in charge of another trust company told the Economic Observer reporter that at present, the entire trust industry is a general trend of salary cuts and layoffs, and the rhythm and magnitude of each company will be different. In fact, in the past two years, some trust companies have begun to make some adjustments to the size and salary of employees.
The person said that the reason for the adjustment is mainly due to the trust company's consideration from the perspective of "reducing costs and increasing efficiency". Because, in the past, the business that supported the rapid development of the trust industry was mainly financing business such as real estate and political trust trusts, but with the release of regulatory policies such as financing trusts, such businesses began to shrink, and the decrease in the business volume of high returns led to a decline in the profits of trust companies. At the same time, with the adjustment of business, trust companies began to optimize and reduce the number of personnel engaged in the traditional business of trust.
In the past few years, during the rapid development of the trust industry, trust institutions have recruited a large number of wealth team members, but as the entire industry has entered a period of contraction, traditional real estate and political credit products have been greatly reduced, resulting in less demand for wealth team personnel. As a result, the wealth management teams of some trust companies have experienced layoffs. The person said.