# Business secretary Peter Kyle said he 'winced' when he heard Bill Winters' comments.

*genai · news · 2026-05-23 · The Sunday Times*

## Key points

- Peter Kyle publicly criticized Standard Chartered's CEO for calling staff 'lower-value human capital' amid AI cuts.
- Standard Chartered is planning to cut thousands of back-office jobs as it increases AI adoption.
- A recent report suggests AI could put at risk one in five jobs in London, about two million roles.
- Kyle announced a £120 million support package for ceramics firms and £350 million for the chemicals industry.

**Companies:** Standard Chartered
**Countries:** United Kingdom

[Read the full story on The Sunday Times](https://www.thetimes.com/business/companies-markets/article/peter-kyle-hits-out-at-bank-bosss-lower-value-human-capital-slur-bc7fk0fzb)

---

Canonical: https://newsio.io/n/dda62112-c99d-4b33-b331-d6c6f11aab74/business-secretary-peter-kyle-said-he-winced-when-he-heard-bill-winters-comments
Summarized by Newsio from The Sunday Times. https://newsio.io/how-it-works