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StanChart global lay-off to hit 40-50 banking staff in India

The rationale behind this exercise is to reduce duplication of work

Nupur Anand  |  Mumbai 

Standard Chartered (StanChart) India, the largest foreign lender in terms of branches, has decided to reduce 10% of its workforce from the corporate and institutional banking (CIB) division. In India, 40-50 people could be asked to leave as a part of this restructuring exercise.  According to sources, the bank has a total workforce of 500-550 people in the CIB division. “It is likely that about 50 people will be asked to leave but typically, the bank may try and absorb a few people internally in other divisions and so the net impact may be around 40 or so,” said ...

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StanChart global lay-off to hit 40-50 banking staff in India

The rationale behind this exercise is to reduce duplication of work

The rationale behind this exercise is to reduce duplication of work Standard Chartered (StanChart) India, the largest foreign lender in terms of branches, has decided to reduce 10% of its workforce from the corporate and institutional banking (CIB) division. In India, 40-50 people could be asked to leave as a part of this restructuring exercise.  According to sources, the bank has a total workforce of 500-550 people in the CIB division. “It is likely that about 50 people will be asked to leave but typically, the bank may try and absorb a few people internally in other divisions and so the net impact may be around 40 or so,” said ... image
Business Standard
177 22

StanChart global lay-off to hit 40-50 banking staff in India

The rationale behind this exercise is to reduce duplication of work

Standard Chartered (StanChart) India, the largest foreign lender in terms of branches, has decided to reduce 10% of its workforce from the corporate and institutional banking (CIB) division. In India, 40-50 people could be asked to leave as a part of this restructuring exercise.  According to sources, the bank has a total workforce of 500-550 people in the CIB division. “It is likely that about 50 people will be asked to leave but typically, the bank may try and absorb a few people internally in other divisions and so the net impact may be around 40 or so,” said ...

image
Business Standard
177 22