StanChart staff count falls below 1,000 as job cuts enter 11th year

Standard Chartered Bank Kenya has reduced its workforce to 942 employees at the end of last year, marking the 11th consecutive year of job cuts. Redundancy costs amounted to Sh112.27 million, down from Sh580.1 million in 2024, indicating a slower pace of layoffs. The bank has more than halved its workforce since 2014, down from 2,048 employees, as it focuses on digital banking and reducing reliance on physical branches.