Standard Chartered CEO Bill Winters said AI could displace hundreds of thousands
of jobs but told anxious staff the bank has seen similar technology-driven
change before. "There is indeed a sense of fear," he said. The bank has about
100,000 employees, the same size as when Winters joined 11 years ago; over that
period automation removed roughly 25,000 roles while other roles were created.
In May Standard Chartered said it will cut more than 15% of corporate-function
roles by 2030 — about 8,000 support posts — to expand AI deployment and simplify
processes. Winters' earlier remark that AI would replace some "lower-value human
capital" drew strong social-media backlash. Global banks are increasingly using
AI to raise productivity, and several have announced layoffs.
