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Tue, 19 May 2026

Tue, 19 May 2026 Standard Chartered to cut thousands of roles as AI use increases

The UK-headquartered banking giant aims to move some of the effected workers to other roles in the business.

* Standard Chartered will cut over 15% (7,800 jobs) from its back-office roles by 2030.
* The job cuts are part of the bank's plan to adopt artificial intelligence (AI) and automate tasks currently performed by humans.
* Affected employees may be moved to other roles within the company.
* Standard Chartered has major back-office operations in India, China, Malaysia, and Poland.
* This move is not unique, as several major companies have announced job cuts due to increased adoption of AI.
* Examples include DBS (cutting 4,000 contract and temporary jobs), Meta (cutting 8,000 jobs), Amazon (laying off over 30,000 workers), and Oracle (laying off over 10,000 workers).