With the downsize, bankers may not have their own desks and could have to reserve their spots before coming to the office, the people said. The lender’s current lease expires in October this year, one of the people said.
Standard Chartered Plc plans to cut half of its existing office space in Singapore’s financial district, according to people familiar with the matter, in what is set to be the biggest floor reduction by a bank in the city-state in recent years.
The London-based bank is giving up nine of the floors it leases at Marina Bay Financial Tower 1 in the business district, according to the people, who asked not to be identified as the information isn’t public. Bloomberg previously reported the bank was considering slashing its office space by at least four floors.
