Standard Chartered to Cut 7000 Jobs in AI Shift
Standard Chartered plans to eliminate over 7,000 roles over four years as it replaces back-office functions with artificial intelligence. While firms like JPMorgan and Citi maintain large Indian workforces, others are consolidating operations or reducing headcount due to automation and restructuring.
STANDARD CHARTERED PLC will eliminate 7,000 jobs over four years to replace human capital with artificial intelligence. The London-headquartered United Kingdom lender announced the cuts, targeting back-office centers in India. The move marks a pivot toward AI-driven automation within the 2,000-plus global capability centers operating in the region.
Standard Chartered said the reductions will primarily impact roles in Chennai and Bengaluru. Standard Chartered is shifting toward higher-value functions like software development and R&D.
