DBS flags 13,000 employees for upskilling, reskilling amid job cuts

DBS has identified 13,000 employees that require upskilling or reskilling, in order to enable them to be future-ready, it said on Tuesday (Feb 25).

To date, more than 10,000 staff have commenced their respective learning road maps, which include skills related to artificial intelligence (AI) and data, said the bank.

This comes after Bloomberg on Monday reported that the lender plans to cut about 4,000 of its contract and temporary staff over the next three years, as AI increasingly takes on roles carried out by human beings.

DBS has around 8,000 to 9,000 of such staff, according to the report.

“Over the next three years, we envisage that AI could reduce the need to renew about 4,000 temporary/contract staff across our 19 markets working on specific projects,” a bank spokesperson told The Business Times.