The bank says cuts more than 7,000 positions over the next four years amid increasing deployment of automation to raise income per employee and lift returns. The move affects lower-value roles as automation replacing routine tasks while some workers transition into alternative roles. Officials say note AI-driven headcount reductions within a broader efficiency push. Over 15% of corporate functions will be affected by 2030. This move signals a broader industry trend towards automation-led workforce shifts across support roles.
Standard 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
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fesi.ibhe.orgStandard 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...
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