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The baby boomer bank leader took to LinkedIn to admit that his words had unnerved some of his coworkers. \u201cI 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,\u201d Winters wrote. \u201cFor that I am sorry.\u201d<\/p>\n
The finance leader first made the controversial comments at an investor briefing in\u00a0Hong Kong last Tuesday, saying: \u201c[AI] is replacing, in some cases, lower value human capital with the financial capital and the investment capital we\u2019re putting in.\u201d<\/p>\n
And while Winters had also added that the company is giving staffers \u201cevery opportunity to reposition\u201d and reskill, labeling some workers as less valuable in the tech revolution quickly sparked criticism.<\/p>\n
Winters doubled down on his AI comments in a LinkedIn post published last Friday, confirming that \u201cback office\u201d corporate function roles will be reduced by about 15% in the next four years\u2014and that Standard Chartered is making an effort to move humans in \u201clower-value\u201d jobs susceptible to automation into \u201chigher-value\u201d roles.\u00a0<\/p>\n
Backlash to the CEO\u2019s comments comes as the conversation on AI job displacement heats up. Major employers, including Amazon, Meta, Accenture, and UPS have all tied sweeping layoffs and reduced hiring to AI-driven work efficiencies. <\/p>\n
Last year alone, around 55,000 roles were slashed in connection to the technology\u2014and another 502,000 of jobs are expected to be lost for the same reason in 2026, according to the National Bureau of Economic Research.<\/p>\n
Critics slam CEO\u2019s stance on AI displacement\u2014but company says it\u2019s \u2018what a responsible employer should do\u2019\u00a0<\/p>\n
As it turns out, the CEO\u2019s attempt to clarify his stance didn\u2019t land, drawing hundreds of reactions to the post. <\/p>\n
Some commenters called out the harm in automating roles deemed lesser than, with one user writing: \u201c\u2018Taken out of context\u2019 is the oldest deflection in the book. If you\u2019re cutting 15% of your workforce, the \u2018building skills for new opportunities\u2019 line doesn\u2019t land\u2014it insults people\u2019s intelligence.\u201d <\/p>\n
Others voiced their disappointment over his word choice, but appreciated his transparency on the issue. \u201cThis is a conversation every organisation will eventually have to face,\u201d another person commented.<\/p>\n
So Winters swooped in with another post explaining himself again. That same day, the CEO published the full transcript of his comments in an attempt to contextualize the situation. And this time, he acknowledged and apologized for the upset caused by his choice of words.\u00a0<\/p>\n
In a comment to Fortune, a Standard Chartered representative highlighted Winters\u2019 commitment to revamp the workforce into a skills-forward company. The business said it will also offer future opportunities for \u201chigher skill, long-term employment\u201d in and outside of the global bank.<\/p>\n
\u201cStandard Chartered has, for many years, invested actively in helping colleagues whose roles may be displaced by automation to build the skills needed for new opportunities within our organisation,\u201d the representative said. \u201cThat is what a responsible employer should do, and our track record in supporting internal transitions is strong. We will continue to act responsibly in helping our people to succeed.\u201d<\/p>\n
The CEOs open about AI automation\u2014despite the backlash<\/p>\n
There is no shortage of companies cutting roles, decreasing headcounts, and slowing hiring in the face of the AI revolution. However, some who have been outspoken on automation were met with public backlash.\u00a0<\/p>\n
In April last year, Duolingo cofounder and CEO Luis von Ahn posted an email on LinkedIn that was sent out to all employees, detailing his vision for the company to be \u201cAI first.\u201d That included phasing out contractors whose work could be automated, as well as restricting teams to hiring new workers only if the role couldn\u2019t be done by AI.\u00a0<\/p>\n
His comments were met with swift backlash, and just one week later, the CEO walked back the statement by adding \u201cmore context.\u201d The cofounder said that Duolingo is helping its staffers \u201cfeel empowered and prepared to use the technology,\u201d while adding that the tech won\u2019t overtake the work of humans.\u00a0<\/p>\n
\u201cTo be clear: I do not see AI as replacing what our employees do (we are in fact continuing to hire at the same speed as before),\u201d von Ahn wrote on LinkedIn. \u201cI see it as a tool to accelerate what we do, at the same or better level of quality. And the sooner we learn how to use it, and use it responsibly, the better off we will be in the long run.\u201d<\/p>\n
Klarna CEO Sebastian Siemiatkowski has also been outspoken on the topic of AI automation. The millennial entrepreneur has said that \u201cAI can already do all of the jobs that we, as humans, do.\u201d\u00a0<\/p>\n
In late 2023, his perspective was set into motion at the $6.4 billion fintech company when Klarna halted hiring; by letting natural attrition run its course, the company\u2019s workforce shrunk by around 1,000 staffers by 2024, which reportedly saved the business around $10 million annually using AI for marketing needs, cutting back on lawyer time, and optimizing communications.\u00a0<\/p>\n
Last year, the CEO even opted to send in an AI version of himself to announce the company\u2019s third quarter results. Assertions like purposeful tech-driven headcount reductions are sure to draw scrutiny, but Siemiatkowski isn\u2019t shying away from the topic like some of his peers.\u00a0<\/p>\n
\u201cI feel a lot of my tech bros are being slightly not to the point on this topic,\u201d Siemiatkowski told Bloomberg in 2025. \u201cI think there is a massive shift coming to knowledge work. And it\u2019s not just in banking, it\u2019s in society at large.\u201d<\/p>\n
And Marc Benioff, the CEO of the $148.5 billion computer software company Salesforce, hasn\u2019t minced words on the topic either.\u00a0<\/p>\n
The company cut at least 4,000 of its customer support roles for AI agents to pick up the work, and cited that when it comes to Salesforce\u2019s business interactions, around \u201c50% are with agents, 50% are with humans.\u201d\u00a0<\/p>\n
While onlookers may gawk at the idea of tech being their new coworkers, Benioff said this AI-human workforce is nothing dystopian: \u201cThis is reality, at least for me.\u201d<\/p>\n
\u201cI was able to rebalance my headcount on my support,\u201d Benioff said on The Logan Bartlett Show last year. \u201cI\u2019ve reduced it from 9,000 heads to about 5,000, because I need less heads.\u201d<\/p>\n
#Standard #Chartered #CEO #apologizes #calling #workers #human #capital #push<\/p>\n","protected":false},"excerpt":{"rendered":"
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