Standard Chartered boss sorry for 'lower value human capital' remark
The boss of Standard Chartered apologised after describing workers as 'lower value human capital'. According to the BBC, the executive said he values all colleagues and is committed to helping them cope with change.
The chief executive of Standard Chartered has apologised after the phrase 'lower value human capital', used in reference to staff, drew criticism. According to the BBC, the executive said he values all colleagues and is committed to helping them adapt to change.
The remark surfaced as the banking sector continues to debate automation and restructuring. Staff representatives and critics highlighted the impact such language can have on the workforce.
The bank's management stressed that employees would be supported through the transition. The episode has renewed questions about how financial institutions communicate with their workers amid technological change.
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