Multinationals' Indian offshore tech hubs face AI-driven hiring slowdown

What happened: Multinationals including Visa, Technicolor, PayPal and Fidelity have each cut hundreds of positions at their Indian global capability centers, as AI prompts companies to rethink large workforces. Key numbers: Each of the named companies cut hundreds of positions. Why it matters: The cuts hit a sector that had absorbed tech workers amid hiring pullbacks at domestic software firms, and industry executives say AI is driving the reassessment of these operations.

Multinationals including Visa, Technicolor, PayPal and Fidelity have each cut hundreds of positions at their Indian global capability centers, as AI prompts companies to rethink large workforces.

The cuts hit a sector that had absorbed tech workers amid hiring pullbacks at domestic software firms, and industry executives say AI is driving the reassessment of these operations.