This content is from: Innovation

StanChart Cuts 800 Jobs

Standard Chartered has reported a fall in its headcount in the first quarter of 2011.

Standard Chartered has reported a fall in its headcount in the first quarter of 2011, Financial Times reports. The firm has cut 800 jobs to reduce staff costs and income this year.

The bank has not abandoned its plan to increase its headcount by about 1,000 in 2011. Standard Chartered hired about 7,000 staff in 2010, which increased its annual staff costs by 17%.

Click here for the story from Financial Times.

Click here for the additional coverage from The Guardian.

Related Content