7,800 Employees Laid Off at ‘StanChart’
Job cuts are now beginning to hit international banks as well. Standard Chartered—one of the leading international banks—is set to lay off approximately 7,800 back-office employees by 2030. It is anticipated that the majority of those affected work in back-office operations located in Chennai, Bengaluru, Shenzhen (China), and Warsaw (the capital of Poland). Bank CEO Bill Winters announced that this figure accounts for up to 15 percent of the company's total workforce.
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