The latest industry transformation map (ITM) for the professional services sector aims to generate about 5,500 new jobs each year between 2015 and 2020, the…
StanChart CEO plans to cut about 1,000 top staff: memoNEWS October 9, 2015
Winters said he planned to reduce the number of staff who are graded in bands 1-4 by a quarter, according to an internal memo seen by Reuters. Those bands cover board members to senior bankers at managing director level, and include about 4,000 staff in total.
Winters, who took over as CEO in June, said the bank had already reduced the number of employees and the other affected staff will be told by the end of November.
Winters said the bank would also make disposals and cut clients as part of his strategic review.
“We need to create room for … investment. While some will come from efficiencies we will also look to divest where we are not differentiated and an activity, business or location is not critical to a core strength,” Winters said in the memo.
A press officer at Standard Chartered did not confirm the news when contacted by CNBC, and said no statement was expected.
news source & image credtis: cnbc.com
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