Skip to Main content

16.08°^C Vancouver

News Entertainment Videos Shows Podcast Contact Us

Feb 25, 2025 8:47 PM - Connect Newsroom

DBS Bank Announces Job Cuts Due to AI, But New Opportunities Also Expected

Share On

dbs-bank-announces-job-cuts-due-to-ai-but-new-opportunities-also-expected

The bank's CEO, Piyush Gupta, stated that approximately 1,000 new AI-related jobs will be created in the coming years.

Singapore's largest bank, DBS, has announced that up to 4,000 employees could lose their jobs due to artificial intelligence over the next three to four years. A DBS spokesperson clarified that the layoffs will primarily impact temporary and contract employees.

The bank's CEO, Piyush Gupta, stated that approximately 1,000 new AI-related jobs will be created in the coming years. However, the company did not specify how many employees would be laid off in Singapore.

DBS currently employs between 8,000 and 9,000 temporary and contract workers, out of a total workforce of 41,000. Last year, CEO Piyush Gupta mentioned that DBS Bank had been working on AI for over a decade.

Latest news

trump-signs-new-stablecoin-regulations-into-law-a-major-milestone-for-crypto-industry

WorldJul 18, 2025

Trump signs new stablecoin regulations into law, a major milestone for crypto industry

President Donald Trump has signed the GENIUS Act into law, setting new regulations for stablecoins, a type of cryptocurrency tied to assets like the U.S. dollar. The law, passed with bipartisan support, introduces consumer protections and aims to boost confidence in the crypto industry. On Friday, Trump called the move a step toward cementing U.S. dominance in global finance and crypto technology. A provision bans Congress members from profiting off stablecoins but excludes the president and his family. Meanwhile, the House passed two additional crypto-related bills, now heading to the Sen

investigation-underway-for-stolen-vehicle-that-crashed-into-retaining-wall

Investigation underway for stolen vehicle that crashed into retaining wall

On July 17, 2025, at approximately 11:00 p.m., West Shore RCMP responded to a report of a collision where a stolen Grey 2004 GMC Jimmy crashed into a brick retaining wall in front of the 2600 block of Peatt Rd in Langford. The vehicle stopped short of crashing into the multi unit dwelling at this location, however, it did cause significant damage to the retaining wall and the vehicle itself. Witnesses advised that there were several suspects seen exiting the vehicle right after the crash. Police are seeking the public’s assistance in identifying these suspects. Suspect Descriptions: Group of

canada-beat-japan-enter-semis-of-the-fiba-u-19-womens-world-cup

CanadaJul 18, 2025

Canada beat Japan, enter semis of the FIBA U-19 women's world cup

Canada's women's basketball team has entered the semifinals of the FIBA U-19 World Cup. Canada won the match played against Japan by a margin of 85-65. In this match, Syla Swords contributed 17 points for Canada in a strong performance. Jasmine Bascoe contributed 16 points in the same contest. The performance of Swords, who hails from Sudbury, Ontario, in the tournament being played in the Czech Republic has been commendable and her average per contest has been 16.6 points, 6.2 rebounds and 1.8 assists. The Canadian team's semifinal match will be against Australia on Saturday.

federal-official-say-forecast-suggests-high-risk-of-wildfires-in-august

CanadaJul 18, 2025

Federal official say forecast suggests high risk of wildfires in August

Federal officials say the 2025 wildfire season is one of the worst on record for Canada, with a high risk of more fires in August. More than 5.5 million hectares of land have burned so far this year, more than double the 10-year average for mid-July. There are 561 fires burning, including 69 that are considered out of control, and most of them are on the Prairies. Officials say the fire risk rises throughout August and they are predicting higher than normal temperatures for most of the country next month. August is also slated to bring below-normal rainfall levels for the Prairies, B.C. and th

mother-of-girl-with-rare-disease-says-nightmare-is-over-after-b-c-restores-funding

CanadaJul 18, 2025

Mother of girl with rare disease says "nightmare is over" after B.C. restores funding

The mother of a 10-year-old Vancouver Island girl who has an extremely rare disease says the "nightmare is over" after the government restored funding for her daughter's drug for as long as she needs it. Charleigh Pollock is the only person in B.C. to have Batten disease, and her mother Jori Fales says in a social post that she is "beyond grateful" for "all the beautiful humans that have moved mountains" for her daughter. Pollock says the "love, support, generosity, compassion, kindness and devotion" shown by supporters of her daughters are "unmatched." Health Minister Josie Osborne announced

Related News

Trump signs new stablecoin regulations into law, a major milestone for crypto industry

Trump signs new stablecoin regulations into law, a major milestone for crypto industry

President Donald Trump has signed the GENIUS Act into law, setting new regulations for stablecoins, a type of cryptocurrency tied to assets like the U.S. dollar. The law, passed with bipartisan support, introduces consumer protections and aims to boost confidence in the crypto industry. On Friday, Trump called the move a step toward cementing U.S. dominance in global finance and crypto technology. A provision bans Congress members from profiting off stablecoins but excludes the president and his family. Meanwhile, the House passed two additional crypto-related bills, now heading to the Sen

Attorney General Bondi says at least 3 dead after incident at LA sheriff facility

Attorney General Bondi says at least 3 dead after incident at LA sheriff facility

U.S. Attorney General Pam Bondi says at least three people are dead after an incident at a Los Angeles County Sheriff’s Department facility. There was a reported explosion at the facility Friday morning. The Los Angeles County Sheriff’s Department has not confirmed any deaths. The U.S. Attorney’s Office did not immediately respond to a request for comment. California Gov. Gavin Newsom’s office said he’s been briefed on the matter. Los Angeles County Fire Department said it responded to calls about a possible explosion around 7:30 a.m. Newsom’s office said it occurred at the LA Coun

Zelenskyy shakes up Ukrainian Cabinet, appointing new prime minister to reinvigorate war effort

Zelenskyy shakes up Ukrainian Cabinet, appointing new prime minister to reinvigorate war effort

Ukraine’s economy minister and the key negotiator in the mineral deal with the U.S, Yuliia Svyrydenko, has been appointed as new prime minister, becoming its first new head of government since the start of Russia’s full-scale invasion in 2022. Svyrydenko is one of a group of officials taking on new roles in Ukraine’s government, as President Volodymyr Zelenskyy reshuffles the Cabinet in a bid to energize a war-weary nation and boost domestic weapons production in the face of Russia’s grinding invasion. At home, however, the Cabinet recalibration has not been seen as a major shift, as

Legals

Journalism code of ethics

© 2021 AKASH Broadcasting Inc.

MANAGED BY STRATWIT

useful links

Accessibility Plan

BC Children's Hospital