‘Replacing lower-value human capital’: Standard Chartered plans over 7,800 job cuts by 2030 amid AI, profitability push
London-headquartered Standard Chartered bank has announced plans to cut more than 15% job roles by 2030 as it scales usage of artificial intelligence (AI) to streamline processes, Bloomberg has reported.
The layoffs are expected to affect corporate functions and support roles, which include positions such as risk management and regulatory compliance, according to its website.
