Standard Chartered Bank plans to cut approximately 7,800 back-office jobs. These reductions will affect over 15% of its back-office roles by 2030. CEO Bill Winters described this as replacing human capital with financial investment. This is part of a new strategy focusing on affluent Chinese customers. The bank also targets higher non-interest income and an 18% return on equity.
https://www.moomoo.com/news/post/70217825/ai-impacts-banking-jobs-standard-chartered-announces-8000-layoffs