Standard Chartered Plc CEO Bill Winters said the bank’s AI push will eliminate
thousands of roles by 2030 as it replaces “lower-value human capital” with
technology. The lender plans to cut over 15% of its support staff, or more than
7,500 roles, from about 52,000 positions across Asia and other regions. Winters
said this is “job role reduction” rather than cost cutting, with affected staff
given advance notice. The comments align with broader banking-sector views,
including from JPMorgan Chase & Co. CEO Jamie Dimon and Goldman Sachs Group Inc.
President John Waldron, who both highlighted AI-driven automation.
