HSBC CEO Georges Elhedery urges employees to embrace AI as the bank plans to cut 20,000 jobs, about 10% of its workforce, over the next 3-5 years.

The bank said it will cut more than 15 per cent of support staff by 2030. Read more at straitstimes.com. Read more at straitstimes.com.

StanChart is one of the first major global banks to lay out official plans to cut thousands of jobs, citing AI as a driver to make its operations slimmer.

HSBC CEO warns AI will displace jobs but also create new opportunities, emphasizing workforce retraining amid industry changes.

CEO Georges Elhedery pledged that AI could make HSBC workers "more productive versions of themselves".

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