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Standard Chartered plans to lay off hundreds of employees worldwide

Signage at Standard Chartered Bank's HK branch (Bloomberg/Paul Yeung)

Standard Chartered plans to start a new round of layoffs involving hundreds of people worldwide, with news that the cuts are likely to affect London, New York, and Singapore.

Standard Chartered currently employs around 85,000 people.

The report quoted a statement from the group saying the job cuts were in line with its commitment to transform and maintain its competitiveness and were not the result of the coronavirus outbreak.

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