DBS CEO sees job cuts of 4,000 temp staff as AI replaces roles

[firehyrant]

DBS CEO sees job cuts of 4,000 temp staff as AI replaces roles​

BloombergMon, Feb 24, 2025 • 04:31 PM GMT+08 • 2 min read

Permanent staff will not be affected, the outgoing CEO said. DBS, based in Singapore, has around 41,000 staff. Photo: Bloomberg

DBS CEO sees job cuts of 4,000 temp staff as AI replaces roles​

BloombergMon, Feb 24, 2025 • 04:31 PM GMT+08 • 2 min read

Permanent staff will not be affected, the outgoing CEO said. DBS, based in Singapore, has around 41,000 staff. Photo: Bloomberg

DBS Group Holdings plans to cut around 4,000 of its contract and temporary staff workforce over the next three years as artificial intelligence increasingly takes on roles carried out by human beings.

Southeast Asia’s largest lender has approximately 8,000 to 9,000 of such staff, according to CEO Piyush Gupta replying to a query from Bloomberg News.

He confirmed a Press Trust of India news agency report, which said the bank will trim its workforce following further adoption of AI across its business.

Permanent staff will not be affected, the outgoing CEO said. DBS, based in Singapore, has around 41,000 staff and Tan Su Shan, currently deputy CEO, will succeed Gupta on March 28.

Global banks will cut as many as 200,000 jobs in the next three to five years as artificial intelligence encroaches on tasks currently carried out by human workers, said a Bloomberg Intelligence report last month.

Chief information and technology officers surveyed for BI indicated that on average they expect a net 3% of their workforce to be cut, according to the report.

See also: UOB prices 3-year floating rate bond at tightest range for an Asian bank

Still, many firms have stressed that the shift will result in roles being changed by technology, rather than replaced altogether.

Teresa Heitsenrether, who oversees JPMorgan Chase & Co.’s AI efforts, said in November that the bank’s adoption of generative AI was so far augmenting jobs. DBS Group Holdings plans to cut around 4,000 of its contract and temporary staff workforce over the next three years as artificial intelligence increasingly takes on roles carried out by human beings.
Southeast Asia’s largest lender has approximately 8,000 to 9,000 of such staff, according to CEO Piyush Gupta replying to a query from Bloomberg News.
He confirmed a Press Trust of India news agency report, which said the bank will trim its workforce following further adoption of AI across its business.
Permanent staff will not be affected, the outgoing CEO said. DBS, based in Singapore, has around 41,000 staff and Tan Su Shan, currently deputy CEO, will succeed Gupta on March 28.
Global banks will cut as many as 200,000 jobs in the next three to five years as artificial intelligence encroaches on tasks currently carried out by human workers, said a Bloomberg Intelligence report last month.
Chief information and technology officers surveyed for BI indicated that on average they expect a net 3% of their workforce to be cut, according to the report.
See also: UOB prices 3-year floating rate bond at tightest range for an Asian bank
Still, many firms have stressed that the shift will result in roles being changed by technology, rather than replaced altogether.
Teresa Heitsenrether, who oversees JPMorgan Chase & Co.’s AI efforts, said in November that the bank’s adoption of generative AI was so far augmenting jobs.

 

[birdie69]

DBS CEO sees job cuts of 4,000 temp staff as AI replaces roles​

BloombergMon, Feb 24, 2025 • 04:31 PM GMT+08 • 2 min read

Permanent staff will not be affected, the outgoing CEO said. DBS, based in Singapore, has around 41,000 staff. Photo: Bloomberg

DBS CEO sees job cuts of 4,000 temp staff as AI replaces roles​

BloombergMon, Feb 24, 2025 • 04:31 PM GMT+08 • 2 min read

Permanent staff will not be affected, the outgoing CEO said. DBS, based in Singapore, has around 41,000 staff. Photo: Bloomberg

DBS Group Holdings plans to cut around 4,000 of its contract and temporary staff workforce over the next three years as artificial intelligence increasingly takes on roles carried out by human beings.

Southeast Asia’s largest lender has approximately 8,000 to 9,000 of such staff, according to CEO Piyush Gupta replying to a query from Bloomberg News.

He confirmed a Press Trust of India news agency report, which said the bank will trim its workforce following further adoption of AI across its business.

Permanent staff will not be affected, the outgoing CEO said. DBS, based in Singapore, has around 41,000 staff and Tan Su Shan, currently deputy CEO, will succeed Gupta on March 28.

Global banks will cut as many as 200,000 jobs in the next three to five years as artificial intelligence encroaches on tasks currently carried out by human workers, said a Bloomberg Intelligence report last month.

Chief information and technology officers surveyed for BI indicated that on average they expect a net 3% of their workforce to be cut, according to the report.

See also: UOB prices 3-year floating rate bond at tightest range for an Asian bank

Still, many firms have stressed that the shift will result in roles being changed by technology, rather than replaced altogether.

Teresa Heitsenrether, who oversees JPMorgan Chase & Co.’s AI efforts, said in November that the bank’s adoption of generative AI was so far augmenting jobs. DBS Group Holdings plans to cut around 4,000 of its contract and temporary staff workforce over the next three years as artificial intelligence increasingly takes on roles carried out by human beings.
Southeast Asia’s largest lender has approximately 8,000 to 9,000 of such staff, according to CEO Piyush Gupta replying to a query from Bloomberg News.
He confirmed a Press Trust of India news agency report, which said the bank will trim its workforce following further adoption of AI across its business.
Permanent staff will not be affected, the outgoing CEO said. DBS, based in Singapore, has around 41,000 staff and Tan Su Shan, currently deputy CEO, will succeed Gupta on March 28.
Global banks will cut as many as 200,000 jobs in the next three to five years as artificial intelligence encroaches on tasks currently carried out by human workers, said a Bloomberg Intelligence report last month.
Chief information and technology officers surveyed for BI indicated that on average they expect a net 3% of their workforce to be cut, according to the report.
See also: UOB prices 3-year floating rate bond at tightest range for an Asian bank
Still, many firms have stressed that the shift will result in roles being changed by technology, rather than replaced altogether.
Teresa Heitsenrether, who oversees JPMorgan Chase & Co.’s AI efforts, said in November that the bank’s adoption of generative AI was so far augmenting jobs.

Welfare gift by this CECA CEO before he is sacked next month?

 

[k1976]

Welfare gift by this CECA CEO before he is sacked next month?

He will golden parachute back to kampong and live like a fairy tale Maha Raj ever after liao

While Sinki get to have a first hand feeling of Hardlanding ….Good luck is all they need now

 

[Robert Half]

I hope that the contract & temporary workers can vote for the oppositions & dun let your employer discriminate you

 

[sbfuncle]

The blackie ceo trying to pull a fast one.
What replace by AI?
Maybe he cut those Jlb marketing staff and replace it with AI generated beedio.
Like that also AI replacement de woh

 

[sbfuncle]

Those Jlb call center staff.
He replace it with AI chatbot.
As useless as having physical call center staff.

 

[sbfuncle]

Those Jlb operation command center monitoring staff.
He replace with AI to monitor.
As good as no monitoring becos overall downtime still affected.

 

[sbfuncle]

Basically with or without AI the same leetrenchment can be done.
No difference with the outcome of the overall services.
All were Jlbs

 

[sbfuncle]

The blackie ceo trying to pull a fast one.
What replace by AI?
Maybe he cut those Jlb marketing staff and replace it with AI generated beedio.
Like that also AI replacement de woh

Perhaps you will get to see lesser or no more public harasser peddling credit cards etc and taken by AI beedio.

 

[sbfuncle]

While he can be a ceo, he is not aware of the hidden bombs in dbs he had planted.
They can plant bombs and dismantle the bomb later and claiming credits for it.
I don't talk cock here. It is the holy truth caught by myself with bomb planter and dismantler
LOL really useless ceo.

 

[k1976]

Singapore prepared to tackle challenges in fast-shifting global landscape: SM Lee​

Senior Minister Lee Hsien Loong said the Government has plans for the coming year and the future, but he added that people need to rally behind it.ST PHOTO: BRIAN TEO
Chin Soo Fang
UPDATED FEB 24, 2025, 02:21 PM


SINGAPORE – The world is in flux, with rapid changes brought about by technology and policy shifts, but Singapore has prepared for this.

Speaking on Feb 22 at an education award ceremony in Teck Ghee, Senior Minister Lee Hsien Loong said the Government has plans for the coming year and the future, but he added that people need to rally behind it.

He said some of the plans were laid out in Prime Minister Lawrence Wong’s Budget speech on Feb 18. They include more immediate needs like support for households to tackle cost pressures, and longer-term plans such as strengthening growth engines and investments in people and infrastructure.

Singapore prepared to tackle challenges in fast-shifting global landscape: SM Lee​

Senior Minister Lee Hsien Loong said the Government has plans for the coming year and the future, but he added that people need to rally behind it.ST PHOTO: BRIAN TEO
Chin Soo Fang
UPDATED FEB 24, 2025, 02:21 PM
SINGAPORE – The world is in flux, with rapid changes brought about by technology and policy shifts, but Singapore has prepared for this.
Speaking on Feb 22 at an education award ceremony in Teck Ghee, Senior Minister Lee Hsien Loong said the Government has plans for the coming year and the future, but he added that people need to rally behind it.
He said some of the plans were laid out in Prime Minister Lawrence Wong’s Budget speech on Feb 18. They include more immediate needs like support for households to tackle cost pressures, and longer-term plans such as strengthening growth engines and investments in people and infrastructure.

 

[shock888]

DBS CEO sees job cuts of 4,000 temp staff as AI replaces roles​

BloombergMon, Feb 24, 2025 • 04:31 PM GMT+08 • 2 min read

Permanent staff will not be affected, the outgoing CEO said. DBS, based in Singapore, has around 41,000 staff. Photo: Bloomberg

DBS CEO sees job cuts of 4,000 temp staff as AI replaces roles​

BloombergMon, Feb 24, 2025 • 04:31 PM GMT+08 • 2 min read

Permanent staff will not be affected, the outgoing CEO said. DBS, based in Singapore, has around 41,000 staff. Photo: Bloomberg

DBS Group Holdings plans to cut around 4,000 of its contract and temporary staff workforce over the next three years as artificial intelligence increasingly takes on roles carried out by human beings.

Southeast Asia’s largest lender has approximately 8,000 to 9,000 of such staff, according to CEO Piyush Gupta replying to a query from Bloomberg News.

He confirmed a Press Trust of India news agency report, which said the bank will trim its workforce following further adoption of AI across its business.

Permanent staff will not be affected, the outgoing CEO said. DBS, based in Singapore, has around 41,000 staff and Tan Su Shan, currently deputy CEO, will succeed Gupta on March 28.

Global banks will cut as many as 200,000 jobs in the next three to five years as artificial intelligence encroaches on tasks currently carried out by human workers, said a Bloomberg Intelligence report last month.

Chief information and technology officers surveyed for BI indicated that on average they expect a net 3% of their workforce to be cut, according to the report.

See also: UOB prices 3-year floating rate bond at tightest range for an Asian bank

Still, many firms have stressed that the shift will result in roles being changed by technology, rather than replaced altogether.

Teresa Heitsenrether, who oversees JPMorgan Chase & Co.’s AI efforts, said in November that the bank’s adoption of generative AI was so far augmenting jobs. DBS Group Holdings plans to cut around 4,000 of its contract and temporary staff workforce over the next three years as artificial intelligence increasingly takes on roles carried out by human beings.
Southeast Asia’s largest lender has approximately 8,000 to 9,000 of such staff, according to CEO Piyush Gupta replying to a query from Bloomberg News.
He confirmed a Press Trust of India news agency report, which said the bank will trim its workforce following further adoption of AI across its business.
Permanent staff will not be affected, the outgoing CEO said. DBS, based in Singapore, has around 41,000 staff and Tan Su Shan, currently deputy CEO, will succeed Gupta on March 28.
Global banks will cut as many as 200,000 jobs in the next three to five years as artificial intelligence encroaches on tasks currently carried out by human workers, said a Bloomberg Intelligence report last month.
Chief information and technology officers surveyed for BI indicated that on average they expect a net 3% of their workforce to be cut, according to the report.
See also: UOB prices 3-year floating rate bond at tightest range for an Asian bank
Still, many firms have stressed that the shift will result in roles being changed by technology, rather than replaced altogether.
Teresa Heitsenrether, who oversees JPMorgan Chase & Co.’s AI efforts, said in November that the bank’s adoption of generative AI was so far augmenting jobs.

Most of these Temps are JLB and CBL old people lah...

 

[Chase]

The job market is very good for employers.

AI is just an excuse. Many are "re-hiring"; the remuneration package for the same job is now 1/3 cheaper if they get a new guy.