The Bad Place9News | $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