Some 20 job cuts at SCB after VSS
View(s):Following on the heels of HSBC, the Standard Chartered Bank (SCB) Sri Lanka has just concluded a Voluntary Separation Scheme (VSS) as part of its global restructuring drive resulting in some 20 job cuts, officials said.They said that these identified staff was told by their superiors of the intention to do away with their roles and they were recommended to accept this scheme. The impact was felt most at the senior level, where there will be consolidation and realignment of jobs, they added.
Globally, the bank has closed 74 branches and ‘rationalised’ a further 20 with staff numbers down by 4,000 from a year before. The bank announced plans in October to reduce senior staff positions by 25 per cent in a global statement. The bank had said (globally) it would not be replacing staff and that it aims to save at least US$400 million through the restructuring in 2015.