How many jobs will be cut at Standard Chartered?

Standard Chartered plans to cut over 15% of roles in its corporate functions, but the exact number of jobs has not been disclosed.

Which departments are affected by the cuts?

The cuts will affect corporate functions such as human resources, finance, and legal departments.

Standard Chartered to cut 15% of corporate roles, boost income per employee

Standard Chartered plans to cut over 15% of corporate functions roles and target a more than 20% increase in income per employee by 2028.

May 19, 2026 1 min read 11 views Source: cnbc.com

Standard Chartered announced plans to cut over 15% of roles in its corporate functions as part of a strategy to improve returns. The bank aims to increase income per employee by more than 20% by 2028, according to a statement on May 19, 2026.

The restructuring will affect areas such as human resources, finance, and legal departments. The bank did not specify the exact number of jobs affected but said the cuts are part of a broader efficiency drive.

Standard Chartered, which focuses on Asia, Africa, and the Middle East, has been under pressure from investors to boost profitability. The bank reported a 10% rise in pretax profit for 2025, but its return on tangible equity remains below targets.

The job cuts are expected to be completed by the end of 2027. The bank also plans to invest in technology and automation to reduce costs further.