{"id":591833,"date":"2026-05-19T04:40:07","date_gmt":"2026-05-19T04:40:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/591833\/"},"modified":"2026-05-19T04:40:07","modified_gmt":"2026-05-19T04:40:07","slug":"standard-chartered-to-cut-thousands-of-roles-as-ai-use-increases","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/591833\/","title":{"rendered":"Standard Chartered to cut thousands of roles as AI use increases"},"content":{"rendered":"<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Standard Chartered is not the first financial services firm to shed roles as AI takes on more work currently done by humans.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">In February, Singapore&#8217;s biggest bank, <a href=\"https:\/\/www.bbc.co.uk\/news\/articles\/c4g7xn9y64po\" class=\"ssrcss-1e0jzsh-InlineLink e1kn3p7n0\" rel=\"nofollow noopener\" target=\"_blank\">DBS, said it expected to cut about 4,000 contract and temporary roles<\/a> over the next three years.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Huge AI-related job losses are expected to hit technology industry workers and graduates particularly hard.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Several big tech firms, most of which are spending huge sums on building tools and infrastructure for AI technology, have made major job cuts this year.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">In April, Facebook owner Meta said it will cut thousands of jobs next month as it spends more than ever on AI projects.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The company told employees that it planned to cut 10% of its workforce &#8211; roughly 8,000 staff. It said it would also not fill thousands more open jobs it had been hiring for.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Amazon announced in January that it would lay off more than 30,000 workers, while Oracle laid off more than 10,000 workers.<\/p>\n","protected":false},"excerpt":{"rendered":"Standard Chartered is not the first financial services firm to shed roles as AI takes on more work&hellip;\n","protected":false},"author":2,"featured_media":591834,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[554,733,4308,86,56,54,55],"class_list":["post-591833","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-technology","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/591833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=591833"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/591833\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/591834"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=591833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=591833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=591833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}