Standard Chartered has announced plans to reduce its corporate functions workforce by more than 15% by 2030, as part of a broader strategy to enhance profitability and returns.
The bank also set new medium-term targets to increase income per employee by over 20% by 2028.
The move is a response to evolving market conditions and the need to streamline operations.
The restructuring is expected to impact support roles, with the goal of making the organization more efficient and agile.
The bank has not provided specific details on the number of roles affected or the timeline for implementation.
This development comes amid a broader trend of financial institutions reevaluating their cost structures and operational models to adapt to shifting economic landscapes.