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.
London-headquartered bank will reduce back-office jobs and aims to move some workers to new roles
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Standard 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 make its operations slimmer as it seeks to increase its profitability and tackle competition.
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