StanChart Joins AI Push With Plan to Cut Thousands of Jobs (2)

Standard Chartered Plc plans to eliminate thousands of support roles over the next four years, joining the ranks of global lenders using artificial intelligence to trim headcount.

The London-headquartered bank said it would cut corporate functions roles by more than 15% by 2030 and scale practical uses of AI to streamline processes, according to a statement on Tuesday. The bank had 52,271 of employees in back-office operations at the end of last year.

“We don’t have job losses, but we do have job role reductions in favor of the machines, and that will accelerate as we go forward into AI,” ...