It's called 'managing attrition'.
Standard Chartered has cut about 2,000 jobs across the bank in the past year and expects little change in the rest of 2013, marking the first time for many years it has cut staff as it tightens costs in the face of slowing growth.
'In the last year headcount has reduced by just under 2,000 ... we are managing attrition, we are tightening up in all areas of spend', said Richard Meddings, finance director.
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