Finance
Singapore's DBS Sees 4,000 Temp Jobs Cut as AI Replaces Roles
- Singapore bank has about 8,000-9,000 contract, temp staff
- Bank cuts will come from natural attrition over next few years
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DBS Group Holdings Ltd. 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 Chief Executive Officer 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.