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19 years of service, no retrenchment benefits — High Court registrar strikes out worker's civil claim https://share.google/wN9xMP5YXWT3uuofi
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Majulah. See how PAP and NTUC have Sinkies' back.
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Standard Chartered to cut over 15% of corporate functions roles as it targets higher returns
PUBLISHED TUE, MAY 19 2026 12:27 AM EDTUPDATED TUE, MAY 19 2026 12:40 AM EDTJustina Lee@IN/JUSTINA-LEE-2742AA59
WATCH LIVE
KEY POINTS
- Standard Chartered cut support roles to improve productivity and returns.
- The lender raised profitability targets through 2030.
Standard Chartered on Tuesday announced it would cut more than 15% of its corporate functions roles by 2030, while setting higher medium-term profitability targets.
The workforce reduction is part of the lender's efforts to raise income per employee by around 20% by 2028, StanChart said.
According to its 2025 annual report, corporate function roles include employees in human resources, corporate affairs and supply chain management. Of its roughly 82,000 employees, about 52,000 work in support roles, while the remainder are classified as part of its business workforce.
The lender also aimed for a 15% return on tangible equity in 2028, up more than three percentage points from 2025, and targeted about 18% in 2030.
"We are investing in the capabilities that will compound our competitive advantages and drive sustainable growth and higher quality returns over time, with clear targets in place," StanChart CEO Bill Winters said in the statement outlining the bank's medium-term targets.
Jefferies analyst Joseph Dickerson described the new targets as "conservatively struck," which he said would deliver mid-teens earnings-per-share growth and a path that could exceed guidance.
"The bigger picture is that the company can clearly commit to a 5-7% revenue growth range given the opportunities in its foot print against a matrix of unknowns in the broader geopolitical/macro environment," Dickerson said in a note.
Jefferies maintained its buy rating and a 2,250 price target on StanChart's London-listed shares, which last closed at 1,921.50. Its Hong Kong-listed shares were up more than 2% in afternoon trade.
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PG are happily waiting for their next batch CDC vouchers
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1. Our Nation's Tripartite system DOES work. It is only just that there must be MORE INSIGHTFUL and CLEARER GUIDELINES to improve the system, to help companies and workers to prosper and progress in Singapore.
2. In the case of the worker being dismissed without any retrenchment benefits after working 19 yrs, it is a clear case of observing the contractual clauses and signing upon it, as such contract would stipulate the ROLES of the worker and the MGMT in clear terms under MOM employment's advisories.
It was not a case of redundancy, as the company is still stable and hiring. The Japanese Culture is very strict, as mistakes made are very seldom tolerated, even as it tries to adapt to foreign nations employment laws, but in the end, it was the contract that the worker had agreed to and signed on, that resulted in him with the consequences.
However, we Singaporeans will leave none behind. There are still opportunities for him to earn an honest living in another company with his experiences which will be valued if he realizes his errors, correct them and progress, even if the benefits from the new company may not be as strong as before, but still, a LIVING wage would be paid, for him to put food on the table for himself and loved ones....
2. As for Standard Charter Bank, the case is straight forward to Singapore's Tripartite committee. It is a clear case of redundancy and retrenchment and thus benefits would have to paid out.
2i) In such cases, mostly the junior staff from such redundant depts would be affected the most. It will come as a shock, but may they, after a chill session, realized that they had not made any mistakes.
The mistakes lays with the CEO and its mgmt staff, whom will just simply hire staff to clear even temporary high workload, with NO foresight on the welfare of those whom had committed their careers to the company and worse - the course of the company and shareholders for years to come.
It speaks VOLUMES of the capability and foresight of the CEO, whom earns millions per year. Should the insignificant nobody me is the Chairman in the Board of Directors, I would fire the CEO instead.
2ii) Thus, may those retrenched staff do not have or feel any guilt, as the real guilt lays with the CEO and mgmt staff, and start afresh with another company, with the education and skills that they had learned.
Singapore, being a port city and one of the financial centers of the World, with many, many more supply chains supplying services to such endeavors, creating jobs for all, is a land of opportunity, and jobs available galore, if only one is willing to lower expectations, to start afresh so as to SPRING ABOVE others when the opportunity to do so comes....for a better future as a capable worker, leader and contributor to oneself, loved ones and employer whom had invested his life savings to see better returns, for himself and society.....
.
2. In the case of the worker being dismissed without any retrenchment benefits after working 19 yrs, it is a clear case of observing the contractual clauses and signing upon it, as such contract would stipulate the ROLES of the worker and the MGMT in clear terms under MOM employment's advisories.
It was not a case of redundancy, as the company is still stable and hiring. The Japanese Culture is very strict, as mistakes made are very seldom tolerated, even as it tries to adapt to foreign nations employment laws, but in the end, it was the contract that the worker had agreed to and signed on, that resulted in him with the consequences.
However, we Singaporeans will leave none behind. There are still opportunities for him to earn an honest living in another company with his experiences which will be valued if he realizes his errors, correct them and progress, even if the benefits from the new company may not be as strong as before, but still, a LIVING wage would be paid, for him to put food on the table for himself and loved ones....
2. As for Standard Charter Bank, the case is straight forward to Singapore's Tripartite committee. It is a clear case of redundancy and retrenchment and thus benefits would have to paid out.
2i) In such cases, mostly the junior staff from such redundant depts would be affected the most. It will come as a shock, but may they, after a chill session, realized that they had not made any mistakes.
The mistakes lays with the CEO and its mgmt staff, whom will just simply hire staff to clear even temporary high workload, with NO foresight on the welfare of those whom had committed their careers to the company and worse - the course of the company and shareholders for years to come.
It speaks VOLUMES of the capability and foresight of the CEO, whom earns millions per year. Should the insignificant nobody me is the Chairman in the Board of Directors, I would fire the CEO instead.
2ii) Thus, may those retrenched staff do not have or feel any guilt, as the real guilt lays with the CEO and mgmt staff, and start afresh with another company, with the education and skills that they had learned.
Singapore, being a port city and one of the financial centers of the World, with many, many more supply chains supplying services to such endeavors, creating jobs for all, is a land of opportunity, and jobs available galore, if only one is willing to lower expectations, to start afresh so as to SPRING ABOVE others when the opportunity to do so comes....for a better future as a capable worker, leader and contributor to oneself, loved ones and employer whom had invested his life savings to see better returns, for himself and society.....
.
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