Halimah Yacob, a lawyer with a background in the Singapore labor movement, expressed her disapproval at the CEO's description of retrenched workers at StanChart, emphasizing the importance of treating them with respect and dignity.
Workers are human beings with families, and those who have contributed to Standard Chartered should not be negatively described as ' lower-value human capital.
' This was the concern raised by former President Halimah Yacob, who took issue with chief executive officer Bill Winters' description of retrenched workers, calling it demeaning. Winters mentioned plans to cut more than 7,000 jobs over the next four years, driven by automation and AI adoption in some staff roles. Halimah urged employers to carry out retrenchments humanely and treat workers with respect.
She questioned the morale of those remaining behind, knowing they are just another form of capital to their employer, who don't really care about their feelings. Global firms are cutting jobs by deploying AI to improve efficiency
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