Standard Chartered is reportedly trimming jobs across its major hubs in London, Singapore and Hong Kong.
Standard Chartered is laying off employees across London, Singapore and Hong Kong, according to a «Bloomberg» report citing unnamed sources.
The cuts include middle office functions, like human resources and digital transformation in Asia, several London-based managing directors in financial markets and some junior staff.
Reductions could total 100 though no final number has been decided.
Cost Savings
Standard Chartered’s job cuts are occurring amid broader plans to target $1.3 billion of savings from 2022 to 2024.
«It is part of normal business activity to review our role requirements on an ongoing basis across the bank, to ensure that we remain effective in delivering our business strategy and serving our clients’ needs,» said a spokesperson for the bank.
