Standard Chartered CEO apologizes for calling workers ‘lower-value human capital’ amid AI layoffs
Standard Chartered CEO Bill Winters faced backlash after referring to laid-off employees as 'lower-value human capital.' His comments, made during an investor presentation, prompted regulatory inquiries from Hong Kong and Singapore. Following the criticism, Winters issued an apology, clarifying that his words were misinterpreted and emphasizing the impact of automation on the workforce.
- ▪Standard Chartered announced plans to cut 8,000 back-office roles, representing about 15% of its support positions.
- ▪Bill Winters' description of affected employees sparked significant backlash from staff and regulators.
- ▪The Hong Kong Monetary Authority and the Monetary Authority of Singapore sought clarification on Winters' remarks.
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Standard Chartered CEO apologizes for calling workers ‘lower-value human capital’ amid AI layoffs Bill Winters sparked regulatory inquiries from Hong Kong and Singapore after announcing plans to cut 8,000 back-office roles and describing affected employees in starkly clinical terms. Share Add us on Google by Editorial Team May. 22, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); There are many ways to tell your employees they’re…
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