Standard Chartered Bank Cuts 15000 Jobs
Standard Chartered is to slash 15,000 jobs worldwide and is making a 5.1 billion US dollars (£3.3 billion) cash-call to investors as part of a major overhaul to shore up the group.
The Asian-focused bank announced the staff cuts under plans to make cost savings of 2.9 billion US dollars (£1.9 billion) by 2018.
Details of its revamp came as the group revealed that it swung into a third-quarter pre-tax loss of 139 million US dollars (£90 million), compared with profits of 1.5 billion US dollars a year earlier (£972 million).
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