Standard Chartered may lay off 40-50 banking staff in India

Mumbai, Nov 29: ‘Standard Chartered (StanChart) India, the largest foreign lender in terms of branches, has decided to reduce 10% of its workforce from the corporate and institutional banking (CIB) division. In India, 40-50 people could be asked to leave as a part of this restructuring exercise,’ reports Nupur Anand in the Business Standard.

‘It is also likely that most people who’ll be asked to leave will be in the senior to mid-senior level. This restructuring exercise is being carried out across the globe and layoffs are likely to happen in other markets, too,’ she adds.