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StanChart to cut 1000 jobs

Standard Chartered Bank is considering a cost cutting plan that will involve job losses to around 1000 people. Bill Winters, who become chief executive in June, announced the proposal in a memo to staff. He said the situation requires decisive and immediate action and each member of the management team has a mission to drive through improvements in the bank’s returns and part of this will be further streamlining of the organization.

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