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Standard Chartered Takes Downsizing Route in Light of Popularizing Digital Alternatives
December 17, 2018
Private sector lender Standard Chartered has reduced its headcount in India by 200 as digital banking services are becoming more and more popular. Sources said that the layoffs are mainly in retail banking because, in digital banking services, only few employees are required for manning operations.
A spokesperson from Standard Chartered said that the bank is working on multiple alternatives to boost performance, one of which is digitization. In the process, a few roles in retail banking have been removed, they informed.
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