Standard Chartered to cut more than 7,000 jobs as it steps up AI use
Standard Chartered plans to cut over 7,000 jobs by 2030 as it increases its use of artificial intelligence. The bank aims to reduce 15% of its back-office roles, impacting around 7,800 employees. This move is part of a broader strategy to streamline operations and enhance profitability amid rising competition.
- ▪Standard Chartered will cut 15% of its corporate function roles by 2030.
- ▪The bank's workforce reduction will primarily affect back-office positions in locations like Chennai and Kuala Lumpur.
- ▪The chief executive stated that the changes are driven by automation and the adoption of AI, not merely cost-cutting.
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Standard Chartered said it would cut 15% of its corporate function roles by 2030. Photograph: Olivia Harris/ReutersView image in fullscreenStandard Chartered said it would cut 15% of its corporate function roles by 2030. Photograph: Olivia Harris/ReutersStandard CharteredStandard Chartered to cut more than 7,000 jobs as it steps up AI useLondon-headquartered bank will reduce back-office jobs and aims to move some workers to new roles Business live – latest updates ReutersTue 19 May 2026 04.31 EDTSharePrefer the Guardian on GoogleStandard Chartered plans to cut more than 7,000 jobs over the next four years as it increasingly uses artificial intelligence.The London-headquartered lender is one of the first major global banks to lay out plans to cut thousands of jobs, citing AI as a driver to…
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