Standard Chartered Joins AI Layoff Wave With Over 7,000 Job Cuts Planned
BeInCrypto
Standard Chartered plans to eliminate over 7,000 roles by 2030, citing increased reliance on artificial intelligence and automation for operational efficiency.Summary
Standard Chartered has announced a major restructuring plan involving the reduction of over 7,000 corporate roles by 2030, representing more than 15% of its workforce. CEO Bill Winters clarified that the move is part of a strategic shift toward utilizing artificial intelligence, automation, and advanced analytics to improve profitability and internal efficiency. The bank aims to achieve a return on tangible equity of 18% by 2030. This decision aligns the financial giant with a broader industry trend of tech-driven layoffs, which has also impacted the crypto and blockchain sectors.
(Source：BeInCrypto)