Standard Chartered plans to cut more than 15 per cent of its back-office jobs by 2030 — about 7,800 roles — as the Asia-focused bank increases its use of AI under a new strategy announced by chief executive Bill Winters on Tuesday.
He said the corporate functions to be affected included human resources and risk and compliance across the group’s global network, including its hubs in Bengaluru, Shenzhen and Warsaw.
“It’s not cost cutting: it’s replacing, in some cases, lower-value human capital with the financial capital and investment capital we’re putting in,” Winters said.
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