Standard Chartered plans major workforce restructuring. The bank announced it will cut over 15% of corporate functions roles by 2030 as part of a broader efficiency drive. The lender aims to boost income per employee by approximately 20% by 2028. Standard Chartered has set ambitious profitability targets, targeting a 15% return on tangible equity by 2028, up from current levels, with further increases to 18% expected by 2030. CEO Bill Winters emphasized the bank's commitment to investing in competitive capabilities while delivering sustainable growth. Analysts view these targets as achievable, with Jefferies projecting mid-teens earnings-per-share growth potential. The restructuring reflects Standard Chartered's strategy to improve operational efficiency and shareholder returns amid a competitive banking landscape.
