Standard Chartered CEO Apologizes for 'Lower-Value Human Capital' Comments
Standard Chartered CEO Bill Winters has apologized for his comments regarding 'lower-value human capital' amid discussions of job cuts and the replacement of workers with AI. His remarks had sparked widespread anger and criticism.
The Story
Analyzing sources…
Source Diversity
Source Diversity
High (71/100)Sources
Standard Chartered boss apologises for ‘lower-value human capital’ comments amid job cuts
Bill Winters faced backlash over remarks about some of near 80,000 staff set to lose roles to AI The chief executive of Standard Chartered has apologised for referring to some of the almost 8,000 staff that are set to lose their jobs to artificial intelligence as “lower-value human capital”. Bill Winters offered the apology after a backlash over comments he made earlier this week as the London-headquartered lender became one of the first major global banks to lay out plans to cut about 7,800 ...
By Mark Sweney
Read full article →‘I am sorry’: Standard Chartered CEO Bill Winters apologises for comments over job cuts
Standard Chartered global CEO Bill Winters on Friday said he was “sorry” for comments describing “lower-value” workers, made while announcing job-cut plans earlier this week. Winters apologised in a LinkedIn post as he tried to cool debate among upset employees after he announced on Tuesday a 15 per cent cut of back-office staff at the lender by 2030. Winters said that AI adoption would replace some “lower-value human capital”. The CEO first made a LinkedIn post explaining his comments from...
By Enoch Yiu
Read full article →Coverage Timeline
Related Stories
Amazon's First Customer Receipt Goes Viral, Bezos and Musk React
just now
Philippine Rep. Leviste Pledges 1 Million Sacks of Rice to Batangas Families
just now
Philippine Senator Padilla Faces Obstruction Raps Over Dela Rosa
just now
Families to be Relocated for North-South Commuter Railway Project
just now