Major Asia bank to cut 4,000 roles

DBS, Southeast Asia’s largest bank, is cutting 4,000 temp roles due to AI: ‘For the first time, I’m struggling to create jobs’
DBS is Southeast Asia’s largest bank by revenue, and ranks No. 10 on Fortune’s Southeast Asia 500. It’s the first of Singapore’s Big Three banks to suggest how AI will aff
Major Asia bank to cut 4,000 roles as AI replaces humans
Singapore's biggest bank, DBS, says it expects to cut about 4,000 roles over the next three years as artificial intelligence (AI) takes on more work currently done by humans. The move will affect temporary and contract staff, a bank spokesperson said, with the reduction in the workforce coming from "natural attrition" as projects are completed.
DBS set to cut 4,000 temporary jobs over 3 years due to AI, CEO says
DBS Group plans to cut 4,000 temporary jobs over the next three years as it expects artificial intelligence (AI) to increasingly take on roles carried out by humans, Chief Executive Officer Piyush Gupta said on Monday.
DBS flags 13,000 employees for upskilling, reskilling amid job cuts
DBS has identified 13,000 employees that require upskilling or reskilling, in order to enable them to be future-ready, the bank said on Tuesday (Feb 25). Read more at The Business Times.
AI Set To Replace Humans In 4000 Roles In Southeast Asia's Largest Bank
The International Monetary Fund (IMF) has warned that AI is likely to affect nearly 40% of all jobs worldwide.
DBS Plans 4,000 Job Cuts as AI Takes Over Key Tasks
Singapore's largest bank, DBS, plans to reduce temporary roles over three years while creating 1,000 new AI positions as it transforms operations
AI To Replace 4,000 Jobs In Southeast Asia's Largest Bank: DBS
Southeast Asia's largest bank DBS said that 4,000 jobs could be cut in the next three years and be replaced by artificial intel
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DBS Bank to reduce workforce by 10% due to AI: reports
A previous report from the World Economic Forum that was released this year revealed that 41% of employers plan to downsize ...
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DBS disposes of 115,839 units in MPACT for $1.29 apiece
The transaction took place on Feb 19 via “physical settlement of equity accumulator”, according to the REIT’s filing on Feb ...
13,000 DBS staff to learn AI, data skills amid bank’s plans to cut 4,000 workers over 3 years
The statement comes a day after Bloomberg reported DBS' plans to cut 4,000 contract and temporary staff. Read more at ...
DBS Group to shrink workforce by 4,000 in 3 years due to AI adoption: CEO Piyush Gupta
Gupta said AI is different and unlike any other technologies adopted in the past, and added that he is struggling to create ...
DBS NAMED WORLD'S BEST BANK FOR SUSTAINABLE FINANCE BY GLOBAL FINANCE
DBS today announced that it has been named World's Best Bank for Sustainable Finance by New York-based trade publication Global Finance. This is the first time the bank has received the global ...
Employees at Singapore’s biggest bank are set to lose their jobs to the AI revolution — and that worries me
Singapore’s largest bank, DBS, has confirmed it will continue using AI tools by cutting as many as 4,000 roles (9.7% of DBS’ ...
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DBS to trim headcount by 10% amid AI integration
Singaporean lender DBS Group is set to reduce its employee headcount by 10% over the next three years as it incorporates AI ...
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DBS acquires 500,000 units in Netlink NBN Trust for 85.5 cents apiece
DBS Bank has increased its stake in Netlink NBN Trust to 1.217% after buying 500,000 units in the latter via the open market.