32.7 C
Wednesday, May 18, 2022

Read Online

Standard Chartered Bank to Sack 1,000 Senior Staff

Standard Chartered Bank, after persistent denials, has confirmed imminent sack of 1,000 senior staff to reduce cost, according to an internal memo sent to staff.

The move was confirmed by Bill Winters, the CEO of Standard Chartered.

The Internal Memo read in part: “that there would be further personnel changes to come. We have already acted to reduce management layers, and a result will have up to 25% fewer senior staff.”

The decision is expected to affect about 4,000 bankers in the grades selected.

The bank has 88,000 employees in total, growing rapidly from about 44,000 in 2005.

Business Journal
We deliver business news that are professionally crafted and tailored to give you business freedom and expression that is aimed at increasing your spirit of enterprise.

Related Articles

- Advertisement -

Stay Connected

- Proud Member -spot_img
- Advertisement -

Latest Articles