Standard Chartered joins wave of AI layoffs with more than 7,000 jobs planned

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It will reduce the chartered standard by more than 15% of the company’s job vacancies in accordance with the United Kingdom-based bank’s use of artificial intelligence.

The bank confirmed the plan to update the investors’ strategy in addition to the daily targets.

Standard banking practices set to reduce thousands of jobs

It is expected to lead to the restructuring of banking operations To cancel more of 7,000 jobs from its workforce of 80,000 employees. CEO Bill Winters said in a press conference that the reduction in the number of employees will affect the use of artificial intelligence and automation.

“It’s cost reduction. he said Winters: “In some cases, it replaces the less valuable human capital with the more expensive investment capital we put in.”

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LAYOFF ALERT: STANDARD CHARTERED 🚨

Cut 7,800 back-office jobs.

British HQ, operates mainly in Asia, Africa and the Middle East.

CEO Winters: “We have no job losses, but we have reduced the role of labor in favor of machines.”

Wait, what? pic.twitter.com/GVokWR73Xs

— Official Layoff (@LayoffAI) May 19, 2026

The bank has not disclosed the sites that will accommodate these discounts. However, some affected employees will be transferred to other roles within the company, حسبما افادت BBC.

Along with the job cuts, Standard Chartered raised its profit expectations. The bank is now targeting a return on tangible equity (RoTE) of more than 15% in 208, 3 percentage points above its level in 2025, and aims to raise this figure to around 180 in 2025.

he said The bank: “We offer practical applications for automation, advanced analytics, and intelligence to simplify operations, improve decision-making, and enhance customer service and efficiency.

تنزم شركة تشارترد تشارترد to a growing list Of the companies that reduce the number of employees in 2026. Amazon announced 16,000 job cuts in January.

It will begin cutting about 8,000 jobs, or about 10% of its workforce, starting Wednesday. digital currency analysis platform The company also reduced the debt of a quarter of its employees as part of the transformation towards artificial intelligence and corporate finance. The change now includes diverse sectors such as banking and technology and online gambling.

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