Bloomberg: India's 2.4M-Worker Capability Centers Cut Grad Hiring as Banks Automate Entry-Level Code

A Bloomberg feature reports India's 2.4 million Global Capability Center workers — roughly 40% of the country's six-million-strong tech workforce — are seeing entry-level hiring squeezed as JPMorgan, Goldman Sachs and peers automate loan-document checks, account reconciliation, basic coding and invoicing. GCCs generated about $100 billion in revenue last fiscal year; JPMorgan's CEO has said AI has cut staffing needs 30–40% in some business lines even as the bank plans 1,000 specialized tech hires in India.