Standard Chartered plans to cut 7,000 jobs in AI push — lender wants to replace ‘lower-value human capital’ and focus on automation
Standard Chartered plans to cut 7,000 jobs as part of its strategy to replace lower-value human capital with AI. This decision affects approximately 15% of corporate roles and is part of a broader goal to increase return on tangible equity. The bank aims to automate more of its core banking system while offering retraining opportunities to affected employees.
- ▪Standard Chartered will cut 15% of its corporate roles by 2030, amounting to about 7,000 jobs.
- ▪The bank's CEO stated that the move is not just cost-cutting but a shift towards financial and investment capital.
- ▪The most affected locations include back offices in India, Malaysia, and Poland.
Opening excerpt (first ~120 words) tap to expand
Tech Industry Standard Chartered plans to cut 7,000 jobs in AI push — lender wants to replace ‘lower-value human capital’ and focus on automation News By Jowi Morales published 19 May 2026 Is AI more valuable than people? When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. (Image credit: Getty Images) Copy link Facebook X Whatsapp Reddit Pinterest Flipboard Email Share this article 0 Join the conversation Follow us Add us as a preferred source on Google Newsletter Subscribe to our newsletter British multinational bank Standard Chartered just announced that it will cut 15% of corporate roles through 2030 and replace 'lower-value human capital' with AI.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Tom's Hardware.
Discussion
0 commentsMore from Tom's Hardware
