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DBS Group Plans to Cut ~4,000 Contract & Temporary Staff in Next 3 Yrs
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DBS Group plans to slash about 4,000 contract and temporary jobs over the next three years as AI gradually replaces human functions. DBS CEO Piyush Gupta said the bank has about 8,000-9,000 such employees. As AI is further applied in the business, the group will cut staff, but full-time employees will not be affected. According to a report by Bloomberg Intelligence, global banks will reduce up to 200,000 jobs in the next 3-5 years as AI gradually replaces human work. AAStocks Financial News |
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