Standard Chartered CEO Apologizes for 'Lower-Value Human Capital' Comments
Standard Chartered CEO Bill Winters issued an apology after facing widespread criticism for describing some workers as 'lower-value human capital' in the context of potential job cuts due to AI. His remarks sparked outrage and drew scrutiny from regulators.
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Bank boss sorry after describing workers as 'lower value human capital'
The Standard Chartered boss said he values all colleagues and is committed to helping them cope with change.
Read full article →Bill Winters ‘Lower-Value Human’ Apology Not Enough for Unions - Bloomberg.com
Bill Winters ‘Lower-Value Human’ Apology Not Enough for Unions Bloomberg.com
Read full article →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 →Regulators Circle StanChart After CEO's AI Layoff Comments Spark Uproar
Regulators Circle StanChart After CEO's AI Layoff Comments Spark Uproar It has been a tumultuous week for Standard Chartered CEO Bill Winters. Winters appeared out of touch with the growing anxiety surrounding mounting white-collar AI-related job losses. He described the bank's AI adoption push as "not cost-cutting," but rather as "replacing lower-value human capital with financial and investment capital." Such language ignited a firestorm for the CEO and the bank, and by the e...
By Tyler Durden
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