India, May 19 -- London-based Standard Chartered has announced plans to reduce more than 15% of its workforce by 2030 as the bank increases the use of artificial intelligence (AI) to improve efficiency and automate several operations.

According to reports, the planned cuts will mainly affect corporate and support divisions, including departments such as risk management and regulatory compliance. Based on the bank's workforce data, Standard Chartered had 52,271 employees working in back-office operations by the end of 2025. The restructuring could therefore impact more than 7,800 jobs over the next few years.

Standard Chartered CEO Bill Winters Explains AI Job Role Reductions

Speaking during a briefing in Hong Kong on Tuesday, Standard ...