Fwd: Big banks prepare for layoffs
Moyez Kamani
Most executives are in agreement: Jobs will be cut as AI is implemented. JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said in December that the technology “will eliminate jobs.” Jane Fraser, Citigroup Inc.’s CEO, said some jobs “will no longer be required,” while Goldman Sachs Group Inc. President John Waldron referred to employees as a “human assembly line” ripe for automation.
As Standard Chartered Plc CEO Bill Winters put it: “It’s not cost cutting; it’s replacing in some cases lower-value human capital with the financial capital and the investment capital we’re putting in.” (He later apologized for his remarks.)
With those recent comments, industry workers have been left dazed about whether their jobs are safe. Even for those in higher levels, the risk that AI could eventually replace their roles has grown.
And while executives, including Dimon and Barclays Plc Chief Executive Officer CS Venkatakrishnan, have talked about retraining and reskilling employees to protect some jobs, it’s unclear how that would work in practice, said David Parsons, an employment lawyer at Mishcon de Reya.
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From: LinkedIn News <editors...@linkedin.com>
Date: Mon, Jun 8, 2026 at 6:35 PM
Subject: Big banks prepare for layoffs
To: Moyez Kamani <moyez....@gmail.com>
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