Standard Chartered Bank to Cut Nearly 8,000 Jobs, Replace with Artificial Intelligence

Standard Chartered announced Tuesday it will eliminate approximately 8,000 jobs by the end of 2030, replacing them with artificial intelligence systems. The British multinational bank plans to reduce corporate positions by about 15 percent of its total workforce as part of efforts to strengthen competitiveness and boost profitability. The job cuts represent a significant restructuring as the banking sector increasingly turns to automation and AI technology to reduce costs and improve operational efficiency.