Major Banks Replace Humans with AI, Over 7,000 Jobs Cut
Jakarta, VIVA – The advancement of artificial intelligence (AI) is increasingly transforming how companies operate, including in the banking sector. Previously merely a supporting tool, AI is now taking on a larger role in various operational activities, from customer service to internal administrative processes.
As this trend continues, many companies are adjusting their business strategies by reducing automatable tasks and increasing investment in technology.
Standard Chartered, a London-based bank, has recently announced plans to cut thousands of jobs over the coming years. The bank stated it will reduce over 7,000 positions by 2030.
According to Reuters, dated Sunday, 1 June 2026, this is part of the company’s strategy to enhance operational efficiency, strengthen profitability, and leverage AI more widely. The firm reportedly plans to cut around 15% of corporate function roles.
Out of more than 52,000 employees in that function, over 7,000 positions are expected to be affected. CEO Bill Winters emphasised that the policy is not merely a cost-cutting measure.
“This is not about cost savings. In some cases, we are replacing lower-value human resources with financial and investment capital,” he said.
Standard Chartered currently has nearly 82,000 employees worldwide. Winters stated that workforce reductions will be implemented gradually through automation and AI adoption, with some staff given opportunities to upskill for new roles.
“Thus, for those wishing to upskill and continue their careers, we are providing every opportunity to transition into new positions,” he added.
AI usage in the banking industry has risen significantly in recent years. Many global financial institutions are competing to integrate the technology to improve efficiency, speed up services, and reduce long-term operational costs.
Standard Chartered is among major banks openly linking workforce efficiency strategies to AI adoption. According to Winters, most affected roles will be in operational centres or back-office functions across various countries.