{"id":216191,"date":"2026-05-19T02:50:00","date_gmt":"2026-05-19T06:50:00","guid":{"rendered":"https:\/\/testing.news-you-need.com\/index.php\/2026\/05\/19\/stanchart-to-cut-more-than-7000-jobs-as-bank-steps-up-ai-adoption\/"},"modified":"2026-05-19T04:25:22","modified_gmt":"2026-05-19T08:25:22","slug":"stanchart-to-cut-more-than-7000-jobs-as-bank-steps-up-ai-adoption","status":"publish","type":"post","link":"https:\/\/testing.news-you-need.com\/index.php\/2026\/05\/19\/stanchart-to-cut-more-than-7000-jobs-as-bank-steps-up-ai-adoption\/","title":{"rendered":"StanChart to cut more than 7,000 jobs as bank steps up AI adoption"},"content":{"rendered":"<p><a href=\"https:\/\/www.reuters.com\/business\/world-at-work\/stanchart-cut-more-than-7000-jobs-bank-steps-up-ai-adoption-2026-05-19\/\">StanChart to cut more than 7,000 jobs as bank steps up AI adoption<\/a><\/p>\n<p><a href=\"https:\/\/www.reuters.com\/business\/world-at-work\/stanchart-cut-more-than-7000-jobs-bank-steps-up-ai-adoption-2026-05-19\/\">https:\/\/www.reuters.com\/business\/world-at-work\/stanchart-cut-more-than-7000-jobs-bank-steps-up-ai-adoption-2026-05-19\/<\/a><\/p>\n<p>Publish Date: <a href=\"publish_date]\">2026-05-19 02:50:00<\/a><\/p>\n<p>Source Domain: <a href=\"www.reuters.com\">www.reuters.com<\/a><\/p>\n<ul>\n<li>Standard Chartered plans to cut over 7,000 jobs, 15% of its corporate function roles, by 2030, driven by AI adoption and automation.<\/li>\n<li>The job cuts are not cost-cutting but part of a strategy to replace lower-value human capital with investment in AI and automation.<\/li>\n<li>The bank targets a 18% return on tangible equity (ROTE) by 2030, raising its return target to 15% by 2028.<\/li>\n<li>StanChart shares increased by 2.5% in Hong Kong trading following the announcement.<\/li>\n<li>The strategic moves are part of a decade-long effort to transform from a potential takeover target into a profitable and resilient lender.<\/li>\n<li>Most affected roles will be in the bank&#8217;s back-office centers, including locations in Chennai, Bangalore, Kuala Lumpur, and Warsaw.<\/li>\n<li>The bank is focusing on higher-margin businesses and aims to attract $200 billion of net new money by 2028.<\/li>\n<li>Financial resilience is emphasized despite geopolitical and market risk challenges.<\/li>\n<\/ul>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>StanChart to cut more than 7,000 jobs as bank steps up AI adoption https:\/\/www.reuters.com\/business\/world-at-work\/stanchart-cut-more-than-7000-jobs-bank-steps-up-ai-adoption-2026-05-19\/ Publish&#8230;<\/p>\n","protected":false},"author":1,"featured_media":216192,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.reuters.com\/resizer\/v2\/N5TCR3K4IZPKXKFUBHVDCCUSQM.jpg?auth=f3ec8202378d5c9edeb6c79fdb0a7272e6b5adafd8756d42a5003c4f53407a80&height=1005&width=1920&quality=80&smart=true","fifu_image_alt":"","footnotes":""},"categories":[14],"tags":[],"class_list":["post-216191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-artificial-intelligence"],"_links":{"self":[{"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/216191"}],"collection":[{"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/comments?post=216191"}],"version-history":[{"count":1,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/216191\/revisions"}],"predecessor-version":[{"id":216193,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/216191\/revisions\/216193"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/media\/216192"}],"wp:attachment":[{"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/media?parent=216191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/categories?post=216191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/tags?post=216191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}