Banking Union Calls for Worker Support as StanChart Plans AI-Linked Job Cuts

CEOs are getting creative with what they call laid-off workers. Here's what they should say instead.

Bill Winters used the phrase "lower-value human capital" to refer to employees he was planning to lay off.Bloomberg/Getty ImagesCEOs are getting creative with the labels they use for laid-off workers, like "lower-value human capital."PR experts said phrases like these can affect a company's long-term success, from hiring to team morale.Their biggest suggestion: Don't blame AI for C-suite decisions.If you've been on the internet in the last week,…

‘Lower-value human capital’: banking boss too honest about AI job losses

Insensitive wording cannot divert from the reality that investment in AI only makes sense if work requires fewer employees

Bill Winters on ‘lower-value human capital’

“It’s not cost-cutting. It’s replacing in some cases lower-value human capital with the financial capital and the investment capital we’re putting in.”

Banking Union Calls for Worker Support as StanChart Plans AI-Linked Job Cuts

The Banking and Financial Services Union has called for early support for Standard Chartered employees who may be affected by the bank’s AI-linked job cuts, Channel News Asia reported. Standard Chartered plans to reduce more than 15 percent of its corporate function roles by 2030. The move is expected to affect more than 7,000 roles. The bank has more than 52,000 employees in corporate function roles and nearly 82,000 staff worldwide. BFSU Execu…