Visa, Technicolour, PayPal and Fidelity have each cut hundreds of positions at their technology offices in India, according to a Nikkei Asia report published Oct. 9, 2026. Artificial intelligence is prompting companies to reassess operations, the report says. The cuts put pressure on an employment source that had helped offset hiring pullbacks by domestic software companies.
Jobs Under Pressure
In recent years, multinational companies rushed to establish technology offices in India. Those offices brought relief to a technology workforce under pressure, as domestic software companies cut back on hiring amid stagnant revenue. Now, the multinational operations that provided that counterweight are beginning to struggle.
The report calls the offices global capability centers and says each of the four named companies has cut hundreds of positions there. It gives no combined figure, identifies no affected roles and doesn’t say when each company made its reductions. The figures are reported separately: hundreds of positions at each company, not one total for all four.
The companies are Visa, Technicolour, PayPal and Fidelity. The report offers no statements from them and doesn’t specify whether they made the cuts for the same reasons. It links the broader reassessment to artificial intelligence, citing industry executives who say AI is leading companies to rethink their large workforces.
AI and the Workforce
The report describes companies reassessing operations and workforce size. It doesn’t say AI directly replaced every worker whose position was cut, or quantify how many jobs companies expect to remove or create. Nor does it detail the affected workers’ tasks or explain how the companies plan to reorganize their offices.
The report ties pressure on multinational offices to an earlier employment imbalance. Domestic software companies cut hiring amid stagnant revenue, while multinational technology offices brought jobs to a workforce already under strain. Now, reductions affect a source of employment that had provided relief. The article doesn’t quantify how much relief it offered or how widely that benefit reached across India’s technology workforce.
What the Report Establishes
Nikkei Asia’s Sayan Chakraborty reported from Bengaluru. The report appeared Oct. 9, 2026, at 12:22 JST. It names the companies making cuts and says industry executives connect AI with companies’ reconsideration of large workforces.
The article gives no figures for the national technology workforce, the number of global capability centers or the share of jobs represented by the reported cuts. It doesn’t describe effects on particular communities, name government or international institutions directing company decisions, or report reactions from workers or political groups. Its focus is narrower: multinational technology offices that helped absorb pressure from domestic hiring cutbacks now face workforce reductions as companies reassess operations in response to AI.