Standard Chartered has said it plans to cut around 7,800 jobs as it ramps up the use of AI across its operations.
The London-based banking giant said it will cut more than 15% of back-office roles by 2030.
It is the latest firm to cut back its staff numbers in favour of increased automation and adoption of new technologies.
The company did not reveal the locations affected by the plans, but also runs corporate offices in Bengaluru, Shenzhen and Warsaw.
It is understood the company employs around 82,000 people, with most of these in back-office roles.
“We are scaling practical uses of automation, advanced analytics and artificial intelligence to streamline processes, improve decision‑making and enhance both client service and internal efficiency,” the company said.
The move is part of a fresh strategy from boss Bill Winters aimed at improving profitability across the lender, which has significant operations across Asia.
Standard Chartered said it hopes the plan will boost its return on tangible equity (RoTE) – a profit measure used by the bank – to more than 15% by 2028, representing a three percentage point increase from 2025.
It also aims to bring its cost-to-income ratio lower on the back of its renewed efficiency drive.
The bank said it hopes changes will drive productivity improvements to help raise income per employee by around 20% by 2028.
Mr Winters, group chief executive, said: “Our strategy is grounded in a simple belief: the world is becoming more connected, more complex and more cross-border.
“Our trusted ability to combine network and product capabilities to solve challenging cross-border problems is difficult to replicate.
“We are investing in the capabilities that will compound our competitive advantages and drive sustainable growth and higher quality returns over time, with clear targets in place.”
