Stanchart To Slash 7,000 Jobs In A Bid To Raise Profitability

(MENAFN- Investor Brand Network) Standard Chartered Bank is preparing for major changes as it works to improve profits and strengthen its future business operations. The London-based bank, commonly known as StanChart, recently announced plans to cut more than 7,000 jobs by 2030 while increasing its investment in technology, automation, and artificial intelligence.

AI and automation are increasingly being seen as ways to drive operational expenses down, and each entity, such as B. Riley Financial Inc. (NASDAQ: RILY), in the financial ecosystem will have to find its own...

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