Standard Chartered Cutting 8,000 Jobs as AI Focus Accelerates

Standard Chartered is undertaking sweeping job cuts as it increases its focus on AI. The global bank announced a growth plan Tuesday (May 19) that included plans for a “reduction in corporate functions roles” of more than 15%. Standard Chartered’s most recent annual report showed it employing a little more than 52,000 people in support services, putting the cuts at around 8,000 workers.