Standard Chartered is cutting 8,000 jobs. Here's where it's focused on automating...

“We don’t have job losses, but we do have job role reductions in favor of the machines, and that will accelerate.”

Updated May 19, 2026 5:21 PM / Published May 19, 2026 2:04 PM 4 min read

Standard Chartered is cutting 8,000 jobs. Here's where it's focused on automating... — Standard Chartered London office, image credit: Standard Chartered.

“Today, we have a human in the loop and believe AI is more about augmentation than replacing people,” said Standard Chartered's Group CIO Guillermo Veiga on April 23.

Less than a month later, the London-headquartered bank announced it was cutting 8,000 jobs – more than 15% of its corporate workforce – in a statement on Tuesday.

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Kiera Fields

Kiera Fields is head of special projects at The Stack and was previously at Business Insider. She writes about leadership, tech and business, covering everything from earnings calls to C-suite interviews.