HONG KONG, May 20 (Reuters) - Standard Chartered ( SCBFF )

CEO Bill Winters sought to assuage staff concerns on

Wednesday, a day after saying that the bank will cut thousands

of jobs over the next four years as it moves to replace

"lower-value human capital" with technology.

"Many of you will have seen media coverage following the

Investor Event in Hong Kong, particularly the reporting around

automation, AI, and workforce changes," Winters said in a memo

to the bank's staff reviewed by Reuters.

"I know this may be unsettling when reduced to simple

headlines or a quote out of context," he said.

A spokesperson for the bank confirmed the memo's content.

StanChart said on Tuesday it would cut 15% of its corporate

function roles by 2030, which, according to a Reuters

calculation, would result in nearly 8,000 redundancies out of

its more than 52,000 staff in such roles.

The bank cited AI as a driver to slim its operations in its

quest to increase profitability and tackle competition.

"It's not cost-cutting. It's replacing in some cases

lower-value human capital with the financial capital and the

investment capital we're putting in," Winters said on Tuesday.

In his memo to staff on Wednesday, Winters said the bank had

been open that its workforce will evolve.

"Some roles will reduce in number, some will change, and new

opportunities will emerge. We will continue to prioritise

investment in reskilling and redeployment wherever we can," he

said.

"Where changes do happen, we will handle them with thought

and care," he added.

StanChart's move to streamline operations and rein in costs

comes as more global firms slash jobs by deploying AI to improve

efficiency. Japanese lender Mizuho in March unveiled up

to 5,000 job cuts over a decade.

HSBC ( HSBC ) Chief Executive Georges Elhedery

said on Wednesday AI would destroy and create certain jobs in

the financial industry, and the bank was retraining its

workforce to meet the challenge.

In his memo, Winters said StanChart would continue to invest

in technology, platforms and automation to improve operations

and client services and position itself for long-term growth.

"I want to be absolutely clear that the future of Standard

Chartered ( SCBFF ) depends on the talent, judgement, relationships, and

commitment of you, our colleagues," he said. "Our progress and

ambition are only possible because of what we achieve together."