Standard Chartered CEO Winters on AI's Impact on Jobs: Fear Is Real, Training Is the Cure
Speaking at the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit in response to a question about AI's impact on jobs, Standard Chartered CEO Winters said that employees' sense of panic is indeed real, but reskilling and training can ease those concerns. Standard Chartered currently has about 100,000 employees; over the past 11 years it has cut about 25,000 positions through automation while creating new roles. The bank plans to cut more than 15% of back-office function positions by 2030, corresponding to about 8,000 support roles.
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Standard Chartered CEO Winters on AI's impact on jobs: Fear is real, training is the cure
2026-11-03 18:29 IT Home - Yuanyang
IT Home, November 3: Artificial intelligence may be threatening hundreds of thousands of jobs, but the CEO of Standard Chartered wants to send a message to anxious employees: we have been through a similar phase before.
On Tuesday, at the Global Financial Leaders' Investment Summit hosted by the Hong Kong Monetary Authority, when asked about the impact of AI development, Bill Winters said: "There really is a sense of panic among people." He said the bank currently has about 100,000 employees, roughly the same size as when he joined 11 years ago. "Over the years we have cut about 25,000 roles through automation, but at the same time we have created other new roles."
The London-based bank announced plans in May to cut more than 15% of back-office roles by 2030 as it deploys AI applications and streamlines business processes, corresponding to about 8,000 support roles.
Winters said the bank is "willing to provide training to employees to fully tap their capabilities." He added that even if some employees ultimately choose to leave, the bank is still able to attract new people. "The fear is real, but I think proper reskilling and training arrangements can ease that concern."
IT Home noted that many banks around the world are using AI to improve efficiency and announcing layoff plans. Barclays plans to cut 5,000 jobs and rely on AI to reduce costs, making it the latest major bank to significantly reduce staff after this new technology swept through the banking industry.