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.

Bill Winters, CEO of Standard Chartered, apologised for referring to staff as 'lower-value human capital' during an investor conference, following backlash over the bank's plans to cut nearly 8,000 back-office roles due to AI adoption.

Standard Chartered CEO Bill Winters sought to reassure staff after his remarks on using artificial intelligence to replace 'lower-value human capital' triggered a sharp backlash on social media and from a former head of state.

Standard Chartered CEO Bill Winters faced backlash after referring to staff as 'lower-value human capital' while discussing AI-related job cuts at an investor conference. The comment, positioned within plans to eliminate about 8,000 support roles due to automation over four years, triggered criticism from staff and public figures, including former Singapore President Halimah Yacob.

Standard Chartered chief executive Bill Winters has apologised for recent comments he made about artificial intelligence spurring cuts in 'lower-value human capital', but said possible redundancies required 'mature discussion'.

Standard Chartered Plc Chief Executive Officer Bill Winters apologized for his comments earlier this week about how artificial intelligence will affect 'lower-value human capital,' after such remarks spurred public backlash.

Standard Chartered CEO Bill Winters issued a public apology after describing AI-displaced employees as 'lower value human capital,' clarifying that his remarks were taken out of context and emphasizing the bank's commitment to helping colleagues adapt to change.