Standard Chartered to lay off her 200 staff in Hong Kong

Despite the record profits in Hong Kong, Standard Chartered bank plans to sack 200 employees (her total employment in our territory is 4000 people, i.e. about 5 percent of its local work force) in HKSAR.

The 200 redundancies are to be made in the division of consumer banking.
It is an unfortunate event, and it is also a tragic news to the those staff concerned.

I wonder why even such a large banking institution like S.C. Bank, with high-profit earning today, using such method of cutting the number of her employees as to reduce the operation cost just because of keen competition in banking!

What do you think?