JPMorgan plans 1,000 India GCC hires despite AI-driven workforce cuts

JPMorgan Chase said the hiring will focus on technology roles across cloud architecture, cybersecurity and AI data pipelines.

JPMorgan Chase (JPMC) is planning to hire around 1,000 technology professionals for its India global capability centre (GCC), Moneycontrol reported on Thursday. The move highlights the continued demand for specialised engineering talent even as the bank has said that artificial intelligence (AI) has cut staffing requirements by up to 40 per cent in some parts of its business.

 

JPMC said the hiring will focus on technology roles across cloud architecture, cybersecurity and AI data pipelines. It added that candidates will undergo HackerRank-based assessments testing coding, data structures, algorithms and system architecture, the Moneycontrol report said.

 

The US-headquartered investment bank operates in five cities in India, with primary hubs in Mumbai, Bengaluru, and Hyderabad, with a workforce of around 55,000 employees. It also operates in Noida and GIFT City in Gandhinagar.

 

 

JP Morgan’s latest development is in line with the bank’s recent commitment to build Asia's largest two-million-square-foot GCC in Mumbai by 2029. The GCC is expected to generate 30,000 jobs, while the building can accommodate up to 12,000 employees, Business Standard had reported earlier.

 

India's expanding GCC ecosystem

 

India has emerged as the world's largest hub for retail and consumer global capability centres, hosting 180 GCCs and employing around 272,300 professionals, a recent report by TeamLease Digital had stated.

 

It said India's retail GCC ecosystem is 34 per cent larger than the next five global peer markets combined, with multinational companies increasingly using their India centres for technology platforms, AI, product engineering, digital commerce, supply chain transformation and data-led operations rather than traditional back-office functions.

 

AI talent in focus

 

The report said hiring demand is increasingly shifting towards AI-led capabilities. Technology, customer and supply chain functions are expected to account for more than 80 per cent of hiring demand by 2028, while demand for technology and engineering roles is projected to rise from about 25,140 positions in 2025 to nearly 41,000 by 2028. Skills in large language model (LLM) engineering, GenAI operations, MLOps and vector databases are expected to be among the fastest-growing areas.

 

Despite the rising demand, the report flagged a shortage of experienced AI professionals.

 

The report said AI's share of India's retail GCC workforce is expected to rise to 7.2 per cent this year. However, experienced talent remains limited, with only around 320 professionals having more than eight years of AI experience across the country's 180 retail GCCs. The report identified AI talent shortages and the concentration of skilled professionals in a handful of cities as key challenges to sustaining the sector's growth.