StanChart charts leaner path: 15% corporate-role cut by 2030 to lift returns
Standard Chartered will cut more than 15% of its corporate-function roles by 2030 to lift income per employee about 20% by 2028 and target ROE of ~15% in 2028 and ~18% in 2030. Of ~82,000 employees, about 52,000 work in support roles. CEO Bill Winters says the move funds sustainable growth and higher-quality returns; Jefferies calls the targets conservative. The bank recently posted a 17% profit rise but took a $190 million charge tied to Middle East conflict and is expanding Middle East trade, along with a new $300 million IFC-backed risk-sharing facility to bolster Africa’s supply chains.