Source: International Business Times
A Standard Chartered signage company signage is seen on a building facade at the central business district in Singapore on March 14, 2025. Standard Chartered became the first major global bank on Tuesday to formally attach a specific headcount-reduction number and a deadline to AI deployment, announcing at its investor and analyst day in Hong Kong that it will eliminate more than 15 percent of its corporate function workforce by 2030 — a cut of more than 7,000 positions out of roughly 52,000 back-office employees. For anyone working in risk management, regulatory compliance, or general support functions at a large bank anywhere in the world, Tuesday's announcement is now the benchmark their own employer will be measured against.
