Standard Chartered to cut 7,000+ jobs as CEO says AI will replace 'lower-value human capital'

hand_to_eye12

It was years ago when they started saying human capital. That should have been the warning for more people

Sapling 🌱5

The phrase ‘human capital’ has always been so frightening to me. Humans are built for the rich to profit off of and language like that promotes exploitation—often even the kind as grave as trafficking and slavery imo.

Danny Fearns6

Lower-value human capital. And they say romance is dead.

Tim Hill of Antifa, #FBPE3

Staff -> personnel -> human resources -> lower-value human capital -> AI MAN THE GUILLOTINES!

Archsomnia3

We need to reject AI with everything we have.

Môr Leidr3

My paediatric career focussed on disabled children, children with SENDS, those abused, & those in difficult social circumstances i.e. most were in poverty So I suppose I’m “lower-value human capital adjacent” This is fascist- eugenicist-speak. We are in deep 💩 Neoliberalism must be binned UBI now

Charlotte3

But, but AI wont be going out shopping…. How will the economy grow?

kjeveryday2

Every company that replaces an employee with AI should have to pay an additional annual tax to cover the cost.

Stephen J.Reid2

Let's just have done with it and call them Soylent Green.

BrokenBanker3

that'll be Bill Winter, the CEO, who I believe is an American

Flakmagnet 3

I think it best that schools start teaching kids and employers alike that the only reason we have 2-day weekends and limited hours etc is because of the (demonstrated) threat of the systematic extermination of exploitative bosses. A reminder is clearly overdue

Engineer Hawk2

In my career, I have to say corporate America thinks the same way; they are just smart enough to not say it out loud. Corporate management thinks the work they do is somehow unique and valuable while they view the work of their employees as an expensive commodity that should be reduced.

michaelkj.bsky.social4

So poor people are now “lower-value capital.” Bill is a fine example of what privilege combined with empathy deprivation looks like.

Pilthy Figsty4

One day these capitalists will realise that human beings make up the most vital cog in the system. Sadly, that's also the day when they'll replace it with outright feudalism.

Mr.Eddie89763

Just tax the living crap out of him and all the rest of the billionaire class They're a "net-negative" on society and anyone that works for a living

Martin2

What he's failed to realise is that he's cutting off his talent pool for the future. It's the juniors (I'm not going to use his terminology) who learn on the job and move on to more challenging roles. AI can't and won't do that.

panino2

the terminology used here is terrifying. "Lower-value human capital" is dehumanizing and typical of CEOs with a god complex. they should be censured and made to apologize.

Amien3

Cattle. And that's keeping it clean

SE Beller ✍️🌊2

Seems "standard charter" (never heard of them) must not be doing so great since they're spinning massive layoffs. I look forward to them disappearing asap 🤷‍♂️