Standard Chartered to slash 15,000 jobs and raise $5.1bn as it swings to loss – Telegraph

Troubled bank takes the axe to costs after reporting pre-tax quarterly loss of $139m

Source: Standard Chartered to slash 15,000 jobs and raise $5.1bn as it swings to loss – Telegraph

Legal Notes: Retrenchment… an authorised cause to remove an employee provided that the latter shall pay separation pay of one month for every year of service.

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