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Standard Chartered (Equities-Banking) to cut 4,000 jobs
Posted By: RumorMail Date: Thursday, 15-Jan-2015 11:39:31
www.rumormill.news/8449
In Response To: The US Retail Industry is Collapsing: Here’s Why You’re in Trouble (RumorMail)
Standard Chartered to cut 4,000 jobs
By Ivana Kottasova @ivanakottasova January 8, 2015: 7:39 AM ET
standard chartered hong kong Standard Chartered will slash 4,000 jobs and close most of its equity business to boost profitability.
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LONDON (CNNMoney)
Standard Chartered said Thursday it will cut 4,000 jobs and close the bulk of its equity business as part of continued efforts to boost profitability.
Most of the losses affect retail banking jobs in Asia. The bank said the move will save it $400 million in 2015.
Pulling out of its equities business is the lender's latest attempt to slash costs and drive growth. StanChart (SBGOF) issued three profit warnings last year and its stock lost 24% in the last 12 months.
The slowdown in China has hurt the bank given its heavy exposure to Asia. Late last year the lender announced it would close or sell various businesses across China, Hong Kong, Korea and Taiwan.
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Articles In This Thread
- The US Retail Industry is Collapsing: Here’s Why You’re in Trouble
RumorMail -- Thursday, 15-Jan-2015 11:31:19
- Target announces plans to exit Canada - 133 stores and 17,600 people
RumorMail -- Thursday, 15-Jan-2015 11:37:06
- Hmmm...Must Be Something In The Water In Canuckland...Sony to close all 14 Canadian stores within 2 months
Watchman -- Thursday, 15-Jan-2015 15:55:58
- Standard Chartered (Equities-Banking) to cut 4,000 jobs
RumorMail -- Thursday, 15-Jan-2015 11:39:31
- Reader: BP cuts 300 jobs in North Sea oil
RumorMail -- Saturday, 17-Jan-2015 19:52:53
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