The bank plans will shed more than 7,000 positions over the next four years as its expansion of automation to boost productivity to lift returns. The plan targets lower-value roles with automation replacing routine tasks and some workers transition into alternative roles. Executive comments note headcount reductions driven by AI as part of an efficiency initiative. About 15% of corporate functions will be affected by 2030. The plan suggests a broader industry trend towards automation-led workforce changes across support roles.
Standard Chartered plans to eliminate more than 7,000 jobs over four years as it increases AI adoption and automation to improve profitability and streamline operations.
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fesi.ibhe.orgThe lender says automation and artificial intelligence will drive a major overhaul of back-office roles
www.easterneye.bizStandard Chartered said it will cut more than 7,000 jobs over the next four years as it increases its use of artificial intelligence and automation. The bank plans to reduce more than 15% of roles in its corporate functions by 2030. The lender said the cuts are part of a wider push to improve produ...
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