Layoffs

JD.com founder vows to protect Chinese jobs from AI and robots

The company will ‘do everything possible to safeguard employment’ Liu says

OpenAI CEO Sam Altman says: "It really, in both positive and negative ways, updated me to thinking that the jobs picture is likely to be very different than we thought.”

AI unlikely to lead to ‘jobs apocalypse’, OpenAI CEO Altman says

An irreplaceable ‘human part’ of work remains even as AI expands across industries, Altman believes

EAs are expected to be among the workers hardest hit by the adoption of AI, according to a World Economic Forum report.

Executive assistants making US$100,000 a year are losing jobs to AI

Much of assistants’ workloads may soon require little or no human labour

In his Wednesday memo to employees, StanChart CEO Bill Winters adopted a more empathetic tone.

StanChart CEO reassures staff after ‘lower-value human’ backlash

Winters’ remarks drew condemnation on social media and across Asia

HSBC chief Georges Elhedery says the bank is deploying AI across multiple functions and businesses to simplify operations and personalise content to customers.

HSBC CEO says AI will destroy and create new jobs, urges staff to embrace change

The lender cites AI as a driver for slimming down its operations to increase profitability

Meta’s aggressive spending on AI has caused concern among investors, who worry that the company’s investment may not ultimately pay off.

Singapore staff first to know in Meta’s 8,000 global job cuts 

This latest round of cuts is expected to hit the company’s engineering and product teams

Many tech firms are cutting staff, citing AI.

The AI bots are coming and the young are booing, not applauding

A rising number of Gen Z are anxious or angry about AI, according to a report

StanChart underpins its new target by keeping its focus on higher-margin businesses, including affluent retail clients and financial institutions.

StanChart targets higher return, to reduce more than 7,000 roles by 2030

The bank is seeking to build on a long turnaround and deliver stronger growth

“We don’t have job losses, but we do have job role reductions in favour of the machines,” StanChart CEO Bill Winters said.

AI replaces ‘lower-value human capital’, StanChart CEO says

Bill Winters’ remarks echo a growing candor among global financial leaders regarding the realities of automation