Standard Chartered CEO Winters apologizes for 'lower-value human capital' remark
Business
Standard Chartered's CEO Bill Winters is in the spotlight after he apologized for calling some jobs "lower-value human capital" after Standard Chartered announced plans to cut 7,000 jobs (about 8% of the bank's workforce).
The cuts are part of a bigger push to bring in AI and modernize how the bank works.
Winters posts LinkedIn apology pledging reskilling
Winters posted on LinkedIn, saying he regrets his wording and wants to focus on helping affected staff reskill or shift into new roles.
He stressed that this isn't just about saving money: it's about keeping up with tech changes.
Staff will get clear notice and support, especially as more than 15% of support jobs could be impacted by 2030 across regions like India, China, and Singapore.