Standard Chartered CEO apologises for his ‘choice of words’ used to defend AI layoffs

 Standard Chartered CEO Bill Winters faced backlash for calling AI’s impact the replacement of “lower-value human capital.” The bank plans to cut 7,000 jobs, with over 15% of support staff affected by 2030. Winters later apologized for his wording, emphasizing colleague value and commitment to reskilling and repositioning staff amidst industry changes. Standard Chartered CEO Bill Winters faced backlash for calling AI’s impact the replacement of “lower-value human capital.” The bank plans to cut 7,000 jobs, with over 15% of support staff affected by 2030. Winters later apologized for his wording, emphasizing colleague value and commitment to reskilling and repositioning staff amidst industry changes.