Standard Bank

Type
Internal restructuring
Country
United Kingdom
Region
London;
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64.1 - Monetary intermediation
64.19 - Other monetary intermediation
270 jobs
Number of planned job losses
Job loss
Announcement Date
30 October 2010
Employment effect (start)
Foreseen end date

Description

Africa-based Standard Bank announced plans to cut 270 jobs in London in a bid to cut costs amid sluggish demand from clients. The redundancies will be made up of 160 permanent positions and 110 contractors in a 20 per cent reduction of its presence in the UK.

Sources

  • 30 October 2010: The Times

Citation

Eurofound (2010), Standard Bank, Internal restructuring in United Kingdom, factsheet number 71463, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71463.