Singapore’s biggest bank says it expects to cut 4,000 roles over the next three years as artificial intelligence (AI) takes on more work currently done by humans.
“The reduction in workforce will come from natural attrition as temporary and contract roles roll off over the next few years,” a DBS spokesperson told the BBC.
Permanent staff are not expected to be affected by the cuts. The bank’s outgoing chief executive Piyush Gupta also said it expects to create around 1,000 new AI-related jobs.
