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, the bank said on Tuesday (Feb 25).

To date, more than 10,000 staff have commenced their respective learning road maps, including on skills such as artificial intelligence (AI) and data, said DBS.

This comes after Bloomberg reported on Monday that the lender plans to cut about 4,000 of its contract and temporary staff workforce 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.

Said a DBS spokesperson: “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.”