Standard Chartered is laying off hundreds of people working in corporate and institutional banking as it steps up its drive to cut costs.

The Asia-focused bank will reduce overlapping roles in servicing customers, as part of a rejig of its structure and activities since raising fresh capital a year ago. Standard Chartered said in November 2015 it would cut 15,000 jobs over the next three years. A person familiar with the matter said the "few hundred" jobs going now are part of that figure.