Standard Chartered plans to halve Singapore office space in flexible working shift
Standard Chartered plans to cut half of its existing office space in Singapore’s financial district in what is set to be the biggest floor reduction by a bank in the city-state in recent years. The London-based lender is giving up nine of the floors it leases at Marina Bay Financial Tower 1 in the business district. Bloomberg previously reported that the bank was considering slashing its office space by at least four floors. With the downsize, bankers may not have their own desks and may have to reserve their spots before coming to the office, sources said. The lender’s current lease expires in October this year. “With 80 per cent of our Singapore-based employees adopting flexible work arrangements, we are reinvesting in and refreshing our premises to create a more open, conducive and collaborative environment,” a Standard Chartered representative said. Singapore is a critical global centre for the bank and it retains a significant presence in buildings in the city, including Mari...