JPMorgan plans to hire more AI engineers while cutting back-office roles, with CFO calling for hiring freezes and a projected 10% reduction in operations jobs.

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.

Standard Chartered plans to cut 7,000 jobs as it expands AI adoption, streamlines operations and targets higher returns by 2030.