Standard Chartered to cut jobs

Standard Chartered Plc is cutting jobs in Dubai and key markets including Singapore as it looks to curb expenses, people familiar with the matter said.

Some senior roles are included in the cuts, the people said, asking not to be identified because the emerging-markets lender’s strategy isn’t yet public.

As many as 100 positions may be impacted in Dubai although the number hasn’t been finalised, sources said.

The eliminations also include leadership in priority banking operations, which offer personalised wealthmanagement services. The staff reduction is coming as CEO Bill Winters is looking for ways to reignite growth. The bank is weighing a plan to simplify its structure, reduce funding expenses and free up liquidity.

The lender is expected to unveil a strategic review to address investor concerns.