Standard Chartered is embarking on selective layoffs of employees across its Singapore, London and Hong Kong hubs, part of the Asia-focused lender’s existing plan to cut costs by more than US$1 billion (S$1.35 billion) through 2024. The bank has started trimming roles in middle-office functions, including human resources and digital transformation, in Asia in the last few weeks, according to people familiar with the matter who asked not to be identified as the information is private.