The British bank Standard Chartered plc will lay off more than 7 thousand employees within four years as part of the transition to artificial intelligence. This is reported in the Standard's press release.
In particular, Standard Chartered will cut 15% of corporate positions by 2030. Currently, the bank employs 82 thousand people, including foreign branches.
The bank's management considers the cuts not as "a cost-cutting factor, but as a replacement of less valuable human capital with financial and investment capital based on automation and the introduction of artificial intelligence."
Other global lenders are pursuing similar strategies. In March, Japanese bank Mizuho announced plans to cut up to 5,000 jobs over 10 years, while financial companies seek to implement advanced AI models to combat growing cyber threats.
Standard Chartered expects to increase its return on equity by 15% by 2028 and by 18% by 2030. The Bank focuses on high-margin businesses, including high-net-worth retail clients and financial institutions within its corporate and investment banking division. The bank has raised the level of targeted attraction of new funds to $200 billion by 2028, taking into account the high figures for the 1st quarter of 2026.
Standard Chartered, focused on the Asia-Pacific region and Africa, is facing geopolitical uncertainty in some key markets amid the Middle East conflict.
Standard Chartered is a British multinational bank in the field of asset management, corporate and investment banking, as well as treasury services. The headquarters is located in London (England) without performing retail banking operations. The main regions of activity are the countries of Asia and Africa, primarily Hong Kong and Singapore.
