Standard Chartered to Cut Over 15% of Support Staff by 2030 Using AI, CEO Says

GateNews
According to Bloomberg, Standard Chartered CEO Bill Winters announced on May 19 that the bank will deploy artificial intelligence to replace what he called "low-value human capital," resulting in thousands of job cuts. The lender plans to reduce support roles by over 15% by 2030, affecting approximately 52,000 employees currently in such positions across India, China, Poland, Singapore, and Hong Kong.
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