DBS Upskills 13,000 Staff in AI While Planning 4,000 Job Cuts – Progress or Displacement?

February 26th 2025

DBS Bank, Southeast Asia's largest bank by assets, is investing heavily in AI and data training for 13,000 employees, with over 10,000 already enrolled in upskilling programs. This move aligns with the bank’s future-ready strategy but comes alongside plans to cut around 4,000 contract and temporary roles over the next three years. DBS insists the reductions will happen through natural attrition as projects conclude, rather than active layoffs, and reassures that permanent staff remain unaffected.

Supporters of this transition highlight how AI adoption is inevitable, enhancing efficiency and creating higher-value roles for those who adapt. Yet critics question whether upskilling efforts will truly safeguard jobs in the long term, as AI's rapid advancement continues to reshape industries. This situation reflects a broader global challenge: balancing innovation with workforce security.

Ultimately, the DBS case poses a critical question for the future of work - are reskilling initiatives enough to protect workers, or are they merely a buffer as industries move toward leaner, AI-driven operations?

Source: Straits Times