Jamie Dowling [Cowabunga Arc]Bill Winters, you've just stained your reputation for all time. A man in your position should know the meaning and power of words.
And should also know the phrase "Ratner moment". Because you've just had a doozie of one.
The Bad PlaceBBC News | Bank boss sorry after describing workers as 'lower value human capital'
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Standard Chartered’s chief executive Bill Winters apologized after describing employees whose jobs are vulnerable to AI as “lower‑value human capital” during a conference on automation, saying the bank plans to cut about 15 % of its back‑office workforce—roughly 7,800 roles—over the next four years. He clarified that the aim is not cost‑cutting but replacing certain roles with financial and investment capital, and stressed the bank’s responsibility to help staff transition to higher‑value positions through reskilling programs. Following his LinkedIn posts, Winters expressed regret for the phrasing that upset colleagues, reaffirmed his commitment to supporting staff amid rapid industry change, and shared the full remarks to demonstrate that he values all employees. The comments highlighted both support for the reskilling effort and criticism of the wording, noting that the CEO may be remembered for labeling workers as “lower value.”
Read more: https://www.bbc.com/news/articles/c98rqld1j3yo?at_medium=RSS&at_campaign=rss
BBC News | Bank boss sorry after describing workers as 'lower value human capital'
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Standard Chartered CEO Bill Winters apologized after describing employees whose jobs could be replaced by AI as “lower‑value human capital,” saying his wording caused upset. He clarified that the bank plans to cut about 15% of back‑office roles—roughly 7,800 positions—over four years as automation expands, but emphasized its responsibility to help affected staff develop new skills and move into higher‑value roles. Winters reiterated that the bank values all colleagues and is committed to supporting them through the rapid changes brought by AI, despite criticism that his comments suggested a devaluation of certain workers.
Read more: https://www.bbc.com/news/articles/c98rqld1j3yo?at_medium=RSS&at_campaign=rss
#BillWinters #StandardChartered #Amazon #Microsoft #LinkedIn
The Daily Beast Latest Articles | Multi-Millionaire Bank Boss Grovels After Four-Word Insult to Workers by Wiktoria Gucia
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Standard Chartered CEO Bill Winters sparked a backlash after telling an investor conference that artificial intelligence would replace “lower‑value human capital” and that the bank intends to cut about 8,000 support roles – roughly 15 % of corporate‑function jobs – over the next four years; critics including former Singapore President Halimah Yacob condemned the phrasing as dehumanising. In response, Winters used LinkedIn to first clarify that he meant lower‑value roles were more vulnerable to automation and that the bank would help staff move into higher‑value positions, and then posted an apology with a transcript to show he values all colleagues and is committed to supporting them through the transition. The London‑headquartered bank, which earns over half its income in Asia, Africa and the Middle East, referred media inquiries to his LinkedIn posts.
#BillWinters #StandardChartered #HalimahYacob #LinkedIn #story
Tod dem FaschismusP.S.: »Todfeind der Menschheit« ist der Begriff von Rosa Luxemburg für diese Leute
#BillWinters
#Humankapital
#Todeskult
#TodfeindDerMenschheit
#RosaLuxemburg
Der CEO von Standard Chartered Plc
(das ist eine Großbank, die vom Financial Stability Board als global systemrelevantes Finanzinstitut eingestuft wurde),
Bill Winters, sagte am Dienstag, er baue »geringwertiges Humankapital« ab, um es durch AI zu ersetzen.
Dies könnte den Anschein erwecken, die Strategen des Kapitals hätten es nur auf den Genozid der Besitzlosen abgesehen, wo sie tatsächlich die planetaren Lebensgrundlagen vernichten.
Novara Media | Bank CEO Calls Workers ‘Lower-Value Human Capital’ and Plans to Replace Them With AI by Tom Midlane
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The CEO of Standard Chartered, Bill Winters, sparked a shareholder and public backlash after describing staff he intends to replace with artificial intelligence as “lower‑value human capital,” announcing plans to cut nearly 8,000 jobs – about 15 % of back‑office positions – as the bank ramps up AI and automation to boost profitability; the remarks were condemned by Singapore’s president and widely criticized on social media as dehumanising, while Winters later claimed his comments were taken out of context, noting his own £12.7 million pay last year and emphasizing that the changes reflect evolving work rather than the worth of employees.
#BillWinters #StandardChartered #HalimahYacob #London #AI #MarieAntoinette
Times of India | Jamie Dimon, CEO of America's largest bank, in China: To reduce our jobs down the road, we will hire fewer ...
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JP Morgan CEO Jamie Dimon told Bloomberg at the bank’s China Summit that artificial intelligence will likely cut the number of traditional banking roles in the future, as the firm plans to hire more AI specialists while reducing headcount in certain categories of bankers. He said the shift can be managed through normal employee turnover—JPMorgan’s annual attrition of about 10%, or roughly 25‑30 000 staff—allowing retraining, role changes or early‑retirement options rather than large‑scale layoffs. Dimon’s comments echo a wider banking debate, with peers such as Standard Chartered, Goldman Sachs and HSBC also noting that AI will replace “lower‑value” human capital, eliminate some back‑office jobs and create new, technology‑focused positions, while emphasizing the need to pace the transition responsibly.
#JamieDimon #JPMorgan #StandardChartered #GoldmanSachs #HSBC #BillWinters
Jamie Dimon, CEO of America's largest bank, in China: To reduce our jobs down the road, we will hire fewer ...
JP Morgan CEO Jamie Dimon has said artificial intelligence will likely reduce some banking jobs in the future, with JPMorgan Chase expected to hire fewer traditional bankers as automation expands across the financial industry. Speaking during a Bloomberg Television interview at the bank’s China Summit in Shanghai, Dimon said AI would change the kinds of jobs banks need rather than simply eliminating work altogether.
9News | $52 billion bank giving 'lower-value human capital' the flick by 9News
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Standard Chartered’s chief executive Bill Winters announced a plan to cut 8,000 jobs over four years, describing the targeted staff as “lower‑value human capital” that will be replaced by artificial‑intelligence systems. He framed the move as a shift toward machine‑driven efficiency rather than cost‑cutting, joining a wave of Australian tech and finance firms—such as Atlassian, Amazon, WiseTech, Meta, Block, Salesforce, eBay and Pinterest—that have already shed thousands of positions to accelerate AI adoption. The language sparked criticism from leaders like Karlie Cremin of Dynamic Leadership Programs Australia, who called the phrasing derogatory, warned it could demotivate workers, and highlighted the difficulty of predicting how AI rollouts will affect employees, emphasizing that human judgement and the employer‑employee social contract cannot be quantified or easily replaced.
#StandardChartered #BillWinters #KarlieCremin #CrestcomANZ #Atlassian