Standard Chartered to cut 10% of corporate banking staffStaff Writer | November 28, 2016
Standard Chartered was reported to be planning to cut 10% of its corporate and institutional banking staff, according to reports.
Banking Standard Chartered swung to a profit
Standard Chartered swung to a profit in third-quarter results at the start of the month, but chief executive Bill Winters said that income and profit levels were not up to scratch but that the "strategic actions" announced a year ago to turn the business around were continuing to be made.
On Monday a spokesman for the company said: "We are making our corporate and institutional banking division more efficient.
"Removing duplication in roles and managing our costs to protect planned investments in technology and people means that a small number of existing roles will be impacted." ■