Standard Chartered refuses to deny job cuts

Person familiar with matter tells Arabian Business at least 80 people have lost jobs.
By Andrew White and Dylan Bowman
Tue 04 Nov 2008 12:47 PM

Standard Chartered has refused to confirm or deny that it has laid off at least 80 employees in the UAE as the global financial crisis impacts the Gulf's banking sector.

"Some roles may be consolidated or restructured. This has been and is very much 'business as usual'," Noura Gwanny, corporate affairs, Standard Chartered, said in an emailed statement on Monday.

"Like all organisations, we continuously look at ways to streamline our operations to make sure we have the right resources in the right places so we can best serve our customers."

Earlier a person familiar with the matter told Arabian Business that at least 80 people had lost their jobs.

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