Standard Chartered Plans 15% Workforce Reduction by 2030
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 19 2026
0mins
Source: CNBC
- Workforce Reduction: Standard Chartered announced plans to cut over 15% of its corporate functions by 2030, aiming to increase income per employee by approximately 20% by 2028, which will significantly enhance operational efficiency and reduce costs.
- Profitability Target Increase: The bank set a target of achieving a 15% return on tangible equity by 2028, up more than three percentage points from 2025, demonstrating confidence in future profitability and attractiveness to investors.
- Market Growth Potential: Analysts believe Standard Chartered has significant opportunities in the growing trade between the Middle East and Asia, with expectations of 5-7% revenue growth despite geopolitical and macroeconomic uncertainties.
- New Risk-Sharing Facility: Standard Chartered partnered with the International Finance Corporation to launch a new risk-sharing facility, planning to roll out up to $300 million in supply chain finance solutions across eight markets, including Ghana and Kenya, to support business growth in Africa.
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About HSBC
HSBC Holdings plc (HSBC) is a banking and financial services company. Its business segments include Hong Kong, UK, Corporate and Institutional Banking (CIB), and International Wealth and Premier Banking (IWPB). Its Hong Kong business comprises retail banking and wealth and commercial banking of HSBC Hong Kong and Hang Seng Bank. Its UK business comprises UK retail banking and wealth (including first direct and M&S Bank) and UK commercial banking, including HSBC Innovation Bank. The CIB segment is formed from the integration of its commercial banking business (outside the UK and Hong Kong) with its global banking and markets business. The IWPB segment comprises premier banking outside of Hong Kong and the UK, its global private bank, and its asset management, insurance and investment distribution businesses. Its customers worldwide through a network covering 58 countries and territories. Its customers range from individual savers and investors to companies, governments and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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