StanChart says has cut 2,000 jobs this year
LONDON Oct 29 (Reuters) - Standard Chartered has cut about 2,000 jobs across the bank in the past year and expects little change in the rest of 2013, marking the first time for many years it has cut staff as it tightens costs in the face of slowing growth.
"In the last year headcount has reduced by just under 2,000 ... we are managing attrition, we are tightening up in all areas of spend," said Richard Meddings, finance director.
Meddings said the bank's operating profit was "slightly down" in the third quarter compared with a year ago. He was speaking after the bank released a trading update showing income had dipped from a year ago, hit by the poor performance of its South Korea business and falling emerging-market currencies.
- Air strike kills 15 civilians in Yemen by mistake: officials
- North Korea executes leader's powerful uncle in rare public purge |
- Insight: In Yemen, al Qaeda gains sympathy amid U.S. drone strikes
- Twitter backtracks on block feature after users revolt
- Iran angry over U.S. sanctions, nuclear talks interrupted