Standard Chartered plans to cut 7,000 jobs in AI push
Standard Chartered will cut about 7,000 corporate jobs by 2030, aiming to boost AI use and lift its return on tangible equity to 18%, sparking debate over automation and staff retraining.
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Job Cuts
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Standard Chartered will cut 7,800 back-office jobs to ‘the machines’ by 2030
Standard Chartered will eliminate 7,800 back-office roles by 2030, replacing them with AI to boost income per employee by 20% as part of a broader industry shift toward quantified AI-driven efficiencies.
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Meta begins cutting 8,000 jobs this week as record profits fund a $145 billion AI infrastructure bet
Meta is cutting 8,000 jobs and cancelling 6,000 open roles while ramping up AI infrastructure spending to $145 billion by 2026, citing a strategic shift toward AI-driven efficiency.
