The bank announced a reduction of more than 7,000 positions in the coming four years amid increasing deployment of artificial intelligence to boost income per employee and drive efficiency. The move targets back-office and support functions with automation replacing lower-value roles while some workers shifting into new positions. Officials say note headcount reductions driven by AI within an efficiency initiative. About 15% of corporate functions will be affected by 2030. This move suggests a lasting shift towards automation-led workforce changes across back-office and support functions.
Standard Chartered said it will cut more than 7,000 jobs over the next four years as it increases its use of artificial intelligence and automation. The bank plans to reduce more than 15% of roles in its corporate functions by 2030. The lender said the cuts are part of a wider push to improve produ...
www.alphaspread.comStandard Chartered plans to eliminate more than 7,000 jobs over four years as it increases AI adoption and automation to improve profitability and streamline operations.
www.moneycontrol.comThe lender says automation and artificial intelligence will drive a major overhaul of back-office roles
www.easterneye.bizIs AI more valuable than people?
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