According to a bank spokeswoman, the decision will impact contract and temporary employees, with “natural attrition” when projects are finished accounting for the employment drop.
The cuts do not affect permanent employees. Piyush Gupta, the bank’s departing CEO, added that the company anticipated adding about 1,000 new AI-related jobs.
DBS is now among the first big banks to provide information about how AI may impact its business operations.
The number of employment that would be eliminated in Singapore was not disclosed by the corporation.
We anticipate that AI will lessen the need to replace roughly 4,000 temporary and contract employees across our 19 markets over the course of the next three years.
