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Fri, 22 May 2026

Fri, 22 May 2026 Bank boss sorry after describing workers as 'lower value human capital'

The Standard Chartered boss said he values all colleagues and is committed to helping them cope with change.

* Standard Chartered's CEO, Bill Winters, apologized for describing employees whose jobs may be replaced by AI as "lower value human capital"
* He initially stated that automation would lead to 7,800 job cuts (15% of back-office roles) over four years
* The bank has been helping staff with skills training and redeployment to new roles within the organization
* Winters clarified in a LinkedIn post that he valued all colleagues "most highly" and was committed to supporting them through industry changes