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.
Coverage by Political Leaning
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Notable Quotes
"In that context, I said that lower-value roles are more vulnerable to automation, and that we have a responsibility to help colleagues move into higher-value roles."
— Bill Winters , Executive
"For that I am sorry."
— Bill Winters , Executive
"Many of you will have seen media coverage following the Investor Event in Hong Kong, particularly the reporting around automation, AI, and workforce changes."
— Bill Winters , Executive
"Workers are human beings with families, not just a form of capital."
— Halimah Yacob , Politician
"I think the transcript makes it clear that I value our colleagues—all of them—most highly."
— Bill Winters , Executive
"I have received a lot of support for the messages in my previous post but still get questions about my choice of words, which I know has caused upset to some colleagues. For that I am sorry."
— Bill Winters , Executive
"I said that lower-value roles are more vulnerable to automation, and that we have a responsibility to help colleagues move into higher-value roles."
— Bill Winters , Executive
"Then do something about it."
— Scott Borchetta , Executive
"lower-value roles are more vulnerable to automation, and that we have a responsibility to help colleagues move into higher-value roles."
— Bill Winters , Executive
"I value all colleagues most highly."
— Bill Winters , Executive
Key People
Bill Winters is the CEO of Standard Chartered.
Eric Schmidt is a former CEO of Google.
Halimah Yacob is the former President of Singapore.
Jensen Huang is the CEO of Nvidia, a leading company in AI and semiconductor technology.
Scott Borchetta is the CEO of Big Machine Records.
Tags
All Coverage
The Standard Chartered boss said he values all colleagues and is committed to helping them cope with change.
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 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'.
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 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.
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 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.
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