StanChart trimming roles as part of cost cuts — Report
The British bank had previously said that it aims for savings of US$1.3 billion under a cost-efficiency programme.
The total reductions could be more than 100, although a final number has yet to be decided, the report said, citing people familiar with the matter. "It is part of normal business activity to review our role requirements on an ongoing basis across the bank," a spokesperson for the British lender told Reuters in an emailed statement.Goldman Sachs is expected to reduce just under 250 jobs in the coming weeks, while JPMorgan Chase & Co is cutting about 500 employees, Reuters reported in May.
Separately, Standard Chartered earlier this year sold its Jordanian business to Arab Jordan Investment Bank as the lender pressed ahead with plans to exit seven markets in Africa and the Middle East. REUTERS
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