12 hours ago
2
HONG KONG, May 20 (Reuters) - Standard Chartered CEO Bill Winters sought to assuage unit concerns connected Wednesday, a time after saying that the slope volition chopped thousands of jobs implicit the adjacent 4 years arsenic it moves to regenerate "lower-value quality capital" with technology.
"Many of you volition person seen media sum pursuing the Investor Event successful Hong Kong, peculiarly the reporting astir automation, AI, and workforce changes," Winters said successful a memo to the bank's staff reviewed by Reuters.
"I know this whitethorn beryllium unsettling erstwhile reduced to elemental headlines oregon a punctuation retired of context," helium said.
A spokesperson for the slope confirmed the memo's content.
StanChart said connected Tuesday it would chopped 15% of its firm relation roles by 2030, which, according to a Reuters calculation, would result successful astir 8,000 redundancies retired of its much than 52,000 unit successful specified roles.
The slope cited AI arsenic a operator to slim its operations successful its quest to summation profitability and tackle competition.
"It's not cost-cutting. It's replacing successful immoderate cases lower-value quality superior with the fiscal capital and the concern superior we're putting in," Winters said connected Tuesday.
In his memo to unit connected Wednesday, Winters said the slope had been unfastened that its workforce volition evolve.
"Some roles will trim successful number, immoderate volition change, and caller opportunities volition emerge. We volition proceed to prioritise concern successful reskilling and redeployment wherever we can," helium said.
"Where changes bash happen, we volition grip them with thought and care," helium added.
(Reporting by Selena Li; Editing by Sumeet Chatterjee and Alexander Smith)
English (CA) · 
English (US) · 
Spanish (MX) ·