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As part of a significant AI-driven overhaul, Standard Chartered plans to reduce its workforce by more than 7800, representing more than 15% of its back-end and corporate operations, by 2030. The London-headquartered bank, which focuses on Asia, Africa, and the Middle East, had around 52,271 employees in support roles at the end of 2025.

At a briefing in Hong Kong on 5-19-26, CEO Bill Winters said there are not cutbacks, but rather, in many cases, replacing “lower-value human capital” with the financial capital and investment capital the company is laying out. He said he would ensure “good clear notice” for any employees affected.

The cuts are slated for roles across countries such as India, China, and Malaysia and for other jobs from risk management, compliance, HR, and other support areas. The bank has set a goal of a 20% per-employee increase in income and a higher ROI by 2028. Certain staff could be retrained in a new business segment such as wealth management. The response was positive with shares up more than 2%. This shift is part of a wider trend among banks to adopt AI to simplify their operations, given the competitive landscape.