Dubai – Mubasher: The British multinational banking and financial services company Standard Chartered is looking to cut jobs in the GCC emirate of Dubai and other key markets including Singapore, sources familiar with the matter said.
The jobs include some senior roles and leadership at the firm’s priority banking operations.
More than 100 positions may be impacted in Dubai, but the number has not been finalised yet.
The step comes along with the company’s three-year plan, launched in 2015, focusing on looking for means to reignite growth, sources said.
The British lender is expected to announce a strategic review to address investor concerns about rising expenses and an approximate 40% decline in the share price.
