• Three cheers for Thuli

    Where are South Africa’s men and women of honour, asks Mandi Smallhorne.

  • Structure your pension

    An expert explains the ins and outs of different types of retirement annuities.

  • Inside Labour

    Without radical policy change SA's social fabric will continue to fray, says Terry Bell.

Data provided by iNet BFA
Loading...
See More

Standard Bank to axe staff

Jun 18 2013 15:01 Reuters

Company Data

STANDARD BANK GROUP LIMITED [JSE:SBK]

Last traded 137.69
Change -0.31
% Change 0.00
Cumulative volume 1144691
Market cap 222.82bn

Last Updated: 01/09/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Standard Bank bids farewell to Maree

New Standard Bank boss speaks out on Zim

Standard Bank net interest income up

Standard Bank signs R20bn green deal

Standard Bank scoops green award

Standard Bank slapped with R528m fine

 
Johannesburg - Africa's largest lender, Standard Bank [JSE:SBK] , said on Tuesday it would lay off 148 people in its information technology operations to reduce duplication of roles.

"Standard Bank has undertaken a thorough review of its IT operations, which has revealed areas of inefficiencies and duplication," said a spokesperson for the lender, which has 4 000 IT professionals.

The bank, which is 20% owned by Industrial and Commercial Bank of China, has been scaling back its staff mostly in international operations.

Last year it said it would cut around 900 jobs in corporate and investment banking in London.

Standard Bank's shares were the biggest gainers among South African banks on Tuesday, up 2.8% at 14:15, compared with a 2% rise by the banking index.

 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

standard bank  |  job cuts
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
7 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

“Hippie sense makes business sense,” an entrepreneur said, adding that "purpose" was core to success.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...