Standard Chartered CEO Bill Winters apologized for remarks describing some workers as 'lower-value' while announcing job cuts. He made the apology on LinkedIn following employee backlash to comments made during job-cut announcements.

Standard Chartered global CEO Bill Winters on Friday said he was “sorry” for comments describing “lower-value” workers, made while announcing job-cut plans earlier this week. Winters apologised in a LinkedIn post as he tried to cool debate among upset employees after he announced on Tuesday a 15 per cent cut of back-office staff at the lender by 2030. Winters said that AI adoption would replace some “lower-value human capital”. The CEO first made a LinkedIn post explaining his comments from...