Standard Chartered: 7,800 jobs cut
Standard Chartered announced plans to cut 7,800 back-office jobs by 2030, attributing the layoffs to the integration of AI technologies. This reduction represents over 15% of its workforce in HR, risk, and compliance functions, with the goal of improving income per employee by 20% by 2028.
Conservative
7,800
Core Estimate
7,800
Upper Bound
7,800
Sources
Standard Chartered will cut 7,800 back-office jobs to ‘the machines’ by 2030
Standard Chartered will cut 7,800 back-office jobs to ‘the machines’ by 2030 Bill Winters told investors in Hong Kong that the bank’s HR, risk and compliance functions will shrink by more than 15% over five years, with the headcount efficiency aimed at lifting income-per-employee 20% by 2028. --- Standard Chartered will cut more than 15% of its back-office roles by 2030, chief executive Bill Winters told investors at an investor day in Hong Kong on Tuesday. The reduction works out to roughly
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