9th Oct 2015 10:53
LONDON (Alliance News) - Standard Chartered PLC Chief Executive Bill Winters plans to cut about 1,000 jobs worldwide, Bloomberg News reported on Friday, citing a person with knowledge of the decision.
Winters has pledged to improve returns at the emerging markets bank, which has suffered from declining profit in the past two years.
"On headcount, we said previously when we announced the management team and organizational changes in July 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 percent fewer senior staff," Standard Chartered said in an emailed statement to Bloomberg.
Shares in Standard Chartered were up 3.5% at 775.10 pence on Friday close to midday.
http://www.bloomberg.com/news/articles/2015-10-09/standard-chartered-said-to-plan-about-1-000-senior-staff-cuts
By Samuel Agini; [email protected]; @samuelagini
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