Stanchart has cut 2,000 jobs this year

Standard Chartered has cut about 2,000 jobs across the bank in the past year and expects little change in the rest of 2013, marking the first time for many years it has cut staff as it tightens costs in the face of slowing growth.

[caption id="attachment_413883" align="alignleft" width="380"] Reuters[/caption]

"In the last year, headcount has reduced by just under 2,000 ... we are managing attrition, we are tightening up in all areas of spend," said Richard Meddings, finance director.

Meddings said the bank's operating profit was "slightly down" in the third quarter compared with a year ago.

He was speaking after the bank released a trading update showing income had dipped from a year ago, hit by the poor performance of its South Korea business and falling emerging-market currencies.

More from Business

Reuters