Digital and Automation eats 200 jobs at Standard Chartered India

Last Updated: Fri, Dec 14, 2018 18:48 hrs
FILE PHOTO: People pass by the logo of Standard Chartered plc at the SIBOS banking and financial conference in Toronto

According to a media report, International Bank, Standard Chartered will cut down it's employee-strength in the country by 200.

A bank's official was quoted as confirming the development to PTI.

The bank employs close to 7500 people. Post the revision, total staff strength will be down by 200 employees.

One of the reasons for short-staffing has been attributed to availability of digital banking alternatives.

A report said maximum headcount has been revised in the retail banking sector, as services of a human are redundant in the age of technology and automation.

A bank's employee was quoted by the report saying, "We have been working on multiple initiatives, including digitisation, to drive performance...as result of this transition, a small number of Retail Banking roles have fallen away," he said.

The report quotes from anonymous sources, and says that the bank is working closely on existing opportunities, fair separation packages and offering outplacement services.

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