StanChart says has cut 4,000 staff this year

Wed Aug 5, 2015 5:21am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

LONDON (Reuters) - Standard Chartered (STAN.L: Quote) has cut 4,000 staff since the start of the year as part of its plan to streamline operations and cut costs, and said there could be further cuts.

"We are clearly intent on getting greater efficiency in the business, some of that will be headcount, some will be extra investment in technology," Standard Chartered Finance Director Andy Halford told reporters on a conference call.

He was speaking after the bank halved its dividend and said it would raise capital from investors if needed after a 44 percent slump in first-half profits.

(Reporting by Steve Slater, editing by Sinead Cruise)

People walk past the main branch of Standard Chartered in Hong Kong in this January 8, 2015 file photo.  REUTERS/Bobby Yip/Files