Head, Retail Banking, Ghana and West Africa Henry Baye said the total number of retail staff of the bank falls far below the 600 staff that is being speculated. The company employs about 85,000 people. Gaborone, Botswana, Ngilichi House (Meriting Spar), Unit 6, Francistown. Business & Economy section is brought to you by, Leave your email to receive our newsletter, Get the news that matters from one of the leading news sites in Ghana, Drop your mail and be the first to get fresh news, McBrown's husband and daughter stun fans in fresh adorable photo, Viral 'doctor' captured weeping over heartbreak finally speaks; says they've dated for 8 years, Celebrity endorsement: Actress Emelia Brobbey pops up with her decision, SHOCKING: See what doctor & girlfriend were doing before it ended in big tears, Mahama's promise on the financial sector unrealistic - Kofi Amoabeng fires at NDC flagbearer, “I think about jail term” - Kofi Amoabeng confesses amid seizure of mansion and UT Bank brouhaha, Shatta Wale's girl causes stir with latest bathroom video, Tackling unemployment: Government to introduce youth in streetlight fixing but expert issues caution.
But Mr. Baye has rejected the false claims, saying, “right now there are only two branches that we are in the process of closing and we have sent notices to our clients and that is no secret. Standard Chartered Eyeing Layoff to Cut Costs. "On headcount, we said previously when we announced the management team and organizational changes in July that there would be further personnel changes to come. “For those that will not be redeployed, a redundancy exercise will be carried out in line with local labour laws,” the bank said in a statement. The bank will also sell assets and cut clients as part of the plan. ERC reviewing Amu Power license application, COVID-19: Banks expected to further slash shareholder pay, COVID-19: Banks extend relief as loan restructures hit Ksh.844B, Kenyan banks forecast drop in new loans as Covid-19 pandemic impacts sector, Pressure on United’s Solskjaer, title favourites clash, Family of deceased tycoon Ramesh Gupta puts his 23-car collection up for sale, seeks to raise Ksh.35M, EPRA denies approving Kenya Power tariff hike, Tuskys woes deepen as aggrieved staffers ‘pay themselves’ from cash tills, COVID-19: Kenya records 1,008 new cases as 21 patients die, ©2020 Citizen Digital. Standard Chartered Bank. The move will directly affect close to 300 employees who work at the centre. Read also: Ghanaian economy to grow by 7.6% this year – World Bank, StanChart Ghana dismisses 600 staff layoff reports, The Ghana Football Association have issued a release reminding Premier League…, The National Democratic Congress, NDC has revoked the membership of 18 of its…, Inter Allies coach Henrik Peters Lehm is optimistic his outfit will be ready…, Prime minister and vice president of the United Arab Emirates and ruler of…, The chairperson of the Electoral Commission, EC Jean Mensa has failed to appear…, Diego Maradona has undergone successful brain surgery, the Argentina legend's…, The National Democratic Congress (NDC) says the New Patriotic Party (NPP) is…, Rodrygo's late strike gave Real Madrid victory over Inter Milan - their first…, The Special Prosecutor, Martin Amidu has called on the Presidency, not to…, The Ghana Football Association (GFA) has announced that they have settled the…. Deutsche Bank ended a hiatus on staff dismissals in May. Clients can execute all their banking transactions right from their mobile device. The statement issued by the Head of Corporate Affairs, Brand and Marketing, Asiedua Addae, said: “As with all branch closures, we will aim at redeploying as many of the impacted employees as possible”. “And in this situation, we are doing the same. Standard Chartered Bank Ghana has dismissed reports in the media suggesting a lay-off of over 600 workers in June 2019. The Bank also denied it is closing three of its branches. Digital copy of Sunday Standard issue of October 18 - 24, 2020.
This comes barely a year after the bank laid off close to 167 employees as StanChart plc began merging most of its business operations. Standard Chartered Bank Botswana is expected to lay off about 200 employees in the first quarter of next year. Standard Chartered's Chief Executive Peter Sands told reporters at a media briefing that the bank had "no such plans" to cut staff. The bank expanded fast in the last decade growing its headcount rapidly to around 86,000 worldwide. Additionally, the Bank has digitised 70 client services from being branch-led to the mobile platform. Issues such as the China slowdown, uncertainty over US interest rates and falling commodity prices have affected profits at various European banks. Standard Chartered Bank Ghana has dismissed reports in the media suggesting a lay-off of over 600 workers in June 2019. British banking major Standard Chartered is reportedly planning to lay off up to 200 employees across its retail banking division in India. The shared service operations provides IT back end support for Standard Chartered in six countries in Africa including South Africa, Uganda, Tanzania, Botswana Zambia as well as Kenya. It is further stated that the bank will close down its branches in major villages across the country as part of the exercise. Analysis: Kimanzi tongue-tied after sack; what next for Stars? In an interview with Joy News, Head, Retail Banking, Ghana and West Africa Henry Baye, said the bank was closing only two branches and this will not result in any layoffs. The consequence of leveraging on technology is the fact that you don’t require as much human labor as before,” KBA CEO Habil Olaka said.
The debit cards will be delivered to the client via Ghana Post making it a completely digital onboarding process without clients interfacing with a branch.The new solution comes with an increased number of billers and is mobile money enabled. Investing.com - The shares of Standard Chartered (LON:STAN) PLC (HK: … At least four banks have announced intentions to lay off employees as the banking sector realigns itself. “The biggest thing is that the cost of services was perceived to be high so there’s a lot of pressure on the banks to reduce the cost be it in terms of transacting or the cost of credit. This “is not the result of any impact from the COVID-19 pandemic.”. London-headquartered Standard Chartered is planning to do away with a quarter of its senior staff resulting in about 1,000 job cuts worldwide in response to pressure from its investors. Information reaching this publication suggests that tempers flared at Gaborone City Town hall on Thursday evening when the staff was briefed about the retrenchment that is expected to commence sometime early next year. Do you have a story to share with us? Analysts at Bloomberg Intelligence have said that there would be scrutiny on the bank’s cost base. Inbox us on our Facebook/Instagram page and we could feature your story. “It’s surprising to know that a branch building of a bank can contain 300 people, this is just not possible. The whole of the retail banking in Ghana put together, the staff is not up to 600 so the maths does not add up.” he told Joy FM.
The process comes with free debit cards which entitles clients to the Bank’s 360 rewards loyalty programme. He halved the bank's dividend to save about $1bn 652m, €880m) and has pledged to reduce risk-weighted assets by about $30bn. New clients can open a bank account and provide all verification documents by uploading to the application and completing the onboarding process within minutes. Standard Charted Bank dismisses 600 staff layoff reports, VIDEO: I once withdrew $10m from a bank just to be sure I am rich- Dangote, Ghanaian economy to grow by 7.6% this year – World Bank, GFA reminds Premier League clubs of deadline for submission of squad list, 2020 elections : NDC disowns 18 members for going independent, We'll be ready for the 2020/21 Ghana Premier League - Inter Allies coach, UAE prime minister receives coronavirus vaccine shot, EC boss fails to appear before parliament, Diego Maradona undergoes successful brain surgery, NDC describes NPP's sod-cutting events as 'Sakawa', UCL: Real Madrid beat Inter Milan, Jota nets hat-trick as Liverpool thrash Atalanta, Don't trivialise my assessment of the Agyapa deal - Martin Amidu, GFA clears referee allowances ahead of new season. BOBEU requested a meeting with the bank after hearing such allegations but failed to provide us with concrete answers,” she said. “It is unfortunate that it appeared that the representatives seemed to be hiding information from. "With enhanced digital capabilities, we are seeing a significant increase in adoption of digital channels by our retail banking customers, primarily through the net and mobile banking. Mr Manjang however stressed that the bank remained committed to Kenya which he said remains a key part of the global business. The bank's chief executive Bill Winters who took charge in June had said that he would simplify Standard Charted with a "new management team and simpler organizational structure". We have already acted to reduce management layers, and a result will have up to 25% fewer senior staff," Standard Chartered said in an e-mailed statement.
Standard Chartered’s decision to resume trimming staff comes as several major banks have reneged on initial promises to hold off making redundancies until the coronavirus crisis passed as the cost and extent of the pandemic has begun increasingly apparent to executives. Standard Chartered reports financial results for the first half of the year Thursday. He added that the total number of retail staff of the bank falls far below the 600 staff that is being speculated. Read also: VIDEO: I once withdrew $10m from a bank just to be sure I am rich- Dangote. London-headquartered Standard Chartered is planning to do away with a quarter of its senior staff resulting in about 1,000 job cuts worldwide in response to pressure from its investors. The Bank also denied it is closing three of its branches. March 17, 2009 / 6:50 AM / 11 years ago. Read full article. Standard Chartered, however, is more affected given that the bulk of its revenues are from Asia.
Bank had pledged to avoid redundancies during pandemic, Cuts considered include locations such as London and Singapore. Botswana Bank Employees Union BOBEU says it is worried about the secrecy surrounding the retrenchment. She said after the meeting both parties agreed that they will have another meeting on the 6th of January next year where they expect to be provided with detailed information about the restructuring exercise.