Standard Chartered to cut over 15% of support roles, targets higher income per employee and returns
Standard Chartered plans to reduce over 15% of its corporate functions roles by 2030 as part of a strategy to increase income per employee. The bank aims for a 15% return on tangible equity by 2028 and 18% by 2030. CEO Bill Winters emphasized the importance of investing in capabilities to drive sustainable growth and higher quality returns.
- ▪Standard Chartered will cut more than 15% of its corporate functions roles by 2030.
- ▪The bank aims to increase income per employee by around 20% by 2028.
- ▪CEO Bill Winters highlighted the focus on sustainable growth and higher quality returns.
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| Original publisher | CNBC — Top |
| Canonical URL | https://www.cnbc.com/2026/05/19/standard-chartered-job-cuts-corporate-roles-profit-targets.html |
| Publication time | Tue, 19 May 2026 04:33:35 GMT |
| Retrieval time | 2026-05-19T04:34:57.306Z |
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Opening excerpt (first ~120 words) tap to expand
Standard Chartered on Tuesday announced it would cut more than 15% of its corporate functions roles by 2030, while setting higher medium-term profitability targets.The workforce reduction is part of the lender's efforts to raise income per employee by around 20% by 2028, StanChart said. According to its 2025 annual report, corporate function roles include employees in human resources, corporate affairs and supply chain management. Of its roughly 82,000 employees, about 52,000 work in support roles, while the remainder are classified as part of its business workforce.The lender also aimed for a 15% return on tangible equity in 2028, up more than three percentage points from 2025, and targeted about 18% in 2030."We are investing in the capabilities that will compound our competitive…
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