British banking major Standard Chartered announced on Tuesday plans to slash thousands of jobs by 2030 as artificial intelligence replaces employees in a range of administrative roles.
The Asia-focused lender said in a statement it plans to cut more than 15% of the roles identified, amounting to around 7,800 posts.
The bank, which employs around 82,000 worldwide, did not specify in which countries the cuts would occur.
"Our next phase of our growth will be supported by a simpler, faster and more connected operating model," it said in a statement, adding that it was seeking to "streamline processes, improve decision-making and enhance both client service and internal efficiency."
"We are investing in the capabilities that will compound our competitive advantages and drive sustainable growth and higher quality returns over time, with clear targets in place," Standard Chartered chief executive Bill Winters said in the statement.
