Standard Chartered Lays Off Over 200 Employees In India Unit: Report

Standard Chartered Plc has laid off over 200 employees in India in its retail banking division, as more customers move to digital services, a person familiar with the matter told Reuters. The layoffs would not result in any branch closures in the country, according to the source. The bank is working with the affected employees on existing opportunities and fair severance packages, Standard Chartered told Reuters in an email.