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Thursday, 17 November 2016

Standard Chartered cuts 150 jobs in the UAE, may lay off more by year-end | The National

Standard Chartered cuts 150 jobs in the UAE, may lay off more by year-end | The National:
"Standard Chartered has cut 150 jobs in the UAE with more expected to be shed by the year-end amid a lending slowdown across the banking sector. The bank last year revealed plans to axe 15,000 jobs worldwide after years of losses but it did not say at the time how many positions would be lost across its local operations.

The move, which has affected the bank’s UAE retail business the most, also comes at a time when local lenders have been suffering because of a slowdown in the economy.


As more customers use online banking to make day-to-day transactions, retail banks need fewer staff in their branches."

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