standard chartered layoff
“It’s surprising to know that a branch building of a bank can contain 300 people, this is just not possible.

The move has been initiated by the bank’s parent company based in London as it consolidates its global operations. Standard Chartered, however, is more affected given that the bulk of its revenues are from Asia. Gaborone International Commerce Park ERC reviewing Amu Power license application, COVID-19: Banks expected to further slash shareholder pay, COVID-19: Banks extend relief as loan restructures hit Ksh.844B, Kenyan banks forecast drop in new loans as Covid-19 pandemic impacts sector, Pressure on United’s Solskjaer, title favourites clash, Family of deceased tycoon Ramesh Gupta puts his 23-car collection up for sale, seeks to raise Ksh.35M, EPRA denies approving Kenya Power tariff hike, Tuskys woes deepen as aggrieved staffers ‘pay themselves’ from cash tills, COVID-19: Kenya records 1,008 new cases as 21 patients die, ©2020 Citizen Digital. “Anytime we are to close a branch, we do that with a clear principle to redeploy or resign these staff from the branches we are to close. But Mr. Baye has rejected the false claims, saying, “right now there are only two branches that we are in the process of closing and we have sent notices to our clients and that is no secret. London-headquartered Standard Chartered is planning to do away with a quarter of its senior staff resulting in about 1,000 job cuts worldwide in response to pressure from its investors.

Analysts at Bloomberg Intelligence have said that there would be scrutiny on the bank’s cost base. The London-headquartered firm has drawn up lists of several hundred employees it plans to eliminate and a cutback program is set to get underway, according to a person familiar with the situation. The Bank also denied it is closing three of its branches. Mr Manjang however stressed that the bank remained committed to Kenya which he said remains a key part of the global business. “And in this situation, we are doing the same. It is, therefore, wrong for anyone to link the closure of a branch to staff going home,”Mr Baye added. Ecobank is set to shut down nine branches while First Community Bank is also restructuring its business model. “For those that will not be redeployed, a redundancy exercise will be carried out in line with local labour laws,” the bank said in a statement. This “is not the result of any impact from the COVID-19 pandemic.”. The Kenya Bankers Association (KBA) last week said pressure was mounting on banks to lower cost of services which can no longer be sustained by having high staff costs. 4 Min Read Business & Economy section is brought to you by, Leave your email to receive our newsletter, Get the news that matters from one of the leading news sites in Ghana, Drop your mail and be the first to get fresh news, McBrown's husband and daughter stun fans in fresh adorable photo, Viral 'doctor' captured weeping over heartbreak finally speaks; says they've dated for 8 years, Celebrity endorsement: Actress Emelia Brobbey pops up with her decision, SHOCKING: See what doctor & girlfriend were doing before it ended in big tears, Mahama's promise on the financial sector unrealistic - Kofi Amoabeng fires at NDC flagbearer, “I think about jail term” - Kofi Amoabeng confesses amid seizure of mansion and UT Bank brouhaha, Shatta Wale's girl causes stir with latest bathroom video, Tackling unemployment: Government to introduce youth in streetlight fixing but expert issues caution. "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.

- StanChart has refuted media reports suggesting they are closing three branches, - According to the bank, it is not laying off 600 workers like it's been peddled. Deutsche Bank ended a hiatus on staff dismissals in May. The bank has also closed some businesses in Hong Kong, China and Korea, resulting in a gain of $219m. However, considering the global economic outlook and tighter regulations, it will now have to reform its business model to boost profits. Standard Chartered PLC Layoffs(Job Cuts) History with timeline, layoff counts, percentages, insights and job cuts with COVID-19, latest 2020 info Have a confidential tip for our reporters? Digital copy of Sunday Standard issue of October 18 - 24, 2020. BOBEU requested a meeting with the bank after hearing such allegations but failed to provide us with concrete answers,” she said. UK bank Standard Chartered Plc said on Tuesday that it had no plans to axe jobs despite global cost-cutting by banks struggling to survive the financial crisis, but warned that 2009 would be a challenging year. And these branches are Westlands and Tudu and let me quickly make this very clear that we don’t have any branch at Taifa at all.”, Ghana News Today: WAEC Warns WASSCE Candidates of Fake Exams Questions on Social Media | #Yencomgh, READ ALSO: 29-year-old national service personnel remanded over alleged fraud. Other European banks that have already cut jobs or could consider cuts include Credit Suisse Group, Deutsche Bank AG, Royal Bank of Scotland Group and Barclays. In a statement Standard Chartered Bank Kenya and East Africa Chief Executive Officer Lamin Manjang said the bank would absorb part of the affected staff through the bank’s global operations, with most likely to be laid off. BOBEU Secretary General Lebogang Leabetswe confirmed the planned retrenchement in an interview with Sunday Standard. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. The bank's chief executive Bill Winters who took charge in June had said that he would simplify Standard Charted with a "new management team and simpler organizational structure". In an interview with Joy News, Head, Retail Banking, Ghana and West Africa Henry Baye, said the bank was closing only two branches and this will not result in any layoffs. HSBC told staff last month it would resume a plan to reduce its workforce by 35,000, having originally said it would pause redundancies. Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.Digital Bank on mobileStandard Chartered Bank on Friday, February 22, 2019, announced the official launch of a full Digital Bank on mobile - Standard Chartered Mobile (SC Mobile) fulfilling the Bank’s determination to provide the best digital lifestyle for our clients.This has been designed with continuous feedback from clients, incorporating innovative technology to allow clients to execute all banking activities from a mobile device.The Bank’s digital services are available by downloading the SC Mobile App. Botswana Bank Employees Union BOBEU says it is worried about the secrecy surrounding the retrenchment. The shared service operations provides IT back end support for Standard Chartered in six countries in Africa including South Africa, Uganda, Tanzania, Botswana Zambia as well as Kenya. Standard Chartered’s decision to resume trimming staff comes as several major banks have reneged on initial promises to hold off making redundancies until the coronavirus crisis passed as the cost and extent of the pandemic has begun increasingly apparent to executives. Standard Chartered Bank Botswana is expected to lay off about 200 employees in the first quarter of next year. © 2016 - 2020. Standard Chartered Bank Ghana has dismissed reports in the media suggesting a lay-off of over 600 workers in June 2019. Speaking in an interview... Thamaga Police and residents are searching for a taxi driver after his car was swept away by a strong current along Metsimotlhabe... Standard Chartered Bank to be dragged to court over negligence, Malesu urges businesses to secure wellbeing of employees, Gov’t out-sourcing was not a response to 2011 strike-Makgalemele, French Ambassador preaches sustainable poverty eradication, Francistown police arrest siblings for murder, Inside the Maun Airport relocation-compensation mess, Covid 19: Botswana’s fatality rate pegged at one death per 240 cases. Botswana Bank Employees Union BOBEU says it is worried about the secrecy surrounding the retrenchment. Focused on markets in Asia, Africa and the Middle East, the lender has faced pressure from investors to reduce costs to improve returns to boost its share price. Inside the Chaotic Unraveling of Jack Ma’s $35 Billion IPO, Two Bad Election Scenarios Come Back to Haunt Global Markets, U.S. Stocks, Bonds Rally as Election Bets Retooled: Markets Wrap, China Halts Ant Group’s IPO, Throwing Ma Empire Into Turmoil, Tech Rebound Powers Stocks Higher; Dollar Slumps: Markets Wrap. This comes barely a year after the bank laid off close to 167 employees as StanChart plc began merging most of its business operations. The process comes with free debit cards which entitles clients to the Bank’s 360 rewards loyalty programme. The introduction of out-sourcing of some operations in key government Ministries was not a response to the 2011 public sector strike, but a result... French Ambassador to Botswana, Anne de la Bpache says Botswana should adopt a sustainable strategy of combating and eliminating poverty. Bank had pledged to avoid redundancies during pandemic, Cuts considered include locations such as London and Singapore.


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