All data is delayed
See More

Standard Bank to cut London jobs

Nov 11 2012 18:55
Johannesburg - Standard Bank [JSE:SBK] said on Friday it would cut up to 15% of its staff in London to save $100m, as Africa's biggest lender scales back operations outside the continent.

The cuts would come in its corporate and investment banking operations internationally, it said.

"At this stage, in London we envisage that this will potentially eliminate between 10% and 15% of... approximately 900 permanent roles," the bank said.

"The process for communicating the impact to our staff in other jurisdictions outside Africa will be completed next week."

The bank has been drastically cutting back its operations outside of Africa.

It had previously aimed to become a top emerging markets bank, but has said it has no longer those ambitions.

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

standard bank  |  job cuts



Read Fin24’s Comments Policy 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
Comments have been closed for this article.

Company Snapshot

We're talking about:


With infrastructure spending having been identified as one of the key focus areas of the National Development Plan, tradesmen will continue to play a critical role in growing the South African economy through their skills.

Money Clinic

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

Voting Booth

A 30% a month return on investment is:

Previous results · Suggest a vote