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Standard Chartered to cut more than 7,000 jobs as it steps up AI use

Standard Chartered has announced plans to cut over 7,000 jobs over the next four years as it increases its use of artificial intelligence. The bank aims to reduce back-office roles and shift some workers to new positions, becoming one of the first major global banks to cite AI as a driver for large-scale job cuts.

SourceThe Guardian AIAuthor: Reuters
Standard Chartered to cut more than 7,000 jobs as it steps up AI use
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Key points

  • Standard Chartered plans to cut more than 7,000 jobs over four years.
  • The cuts are driven by increased AI adoption and a push for higher profitability.
  • The bank will focus on back-office roles and offer redeployment opportunities.

Highlights and analysis are generated automatically and may contain errors. Check the original source.