-
May 21, 2026
-
Inside India’s biggest banking and financial services tech hubs
Standard Chartered will eliminate more than 7,000 jobs over the next four years as it seeks to replace "lower-value human capital" with technology, becoming one of the top names in finance to target headcount cuts using artificial intelligence.
Announcing the job cuts on Tuesday, the London-headquartered lender said the most affected roles will be in its back-office centres, including those in Chennai and Bengaluru.
Standard Chartered is among the 2,000-plus companies that have set up tech hubs in India, also known as global capability centres. Staffing firm Quess Corp has counted India's banking, financial services and insurance sector as one of the top three verticals within India's GCC (global capability centres) economy, representing 20% to 25% of overall headcount in the GCC ecosystem.
|