Charles Schwab to Scale India Centre Workforce to 2,000 by 2027
Synopsis
Charles Schwab will expand its Hyderabad centre to support its US operations, bringing some technology work in-house and adding about 2,000 employees by 2027.
Key Highlights
- Charles Schwab expects its India headcount to be around 2,000 by the end of 2027
- The company will hire approximately 500 people in the first year.
- The newly launched centre in Hyderabad will provide technology, engineering and operations support.
- Move some technology work from contractors in India into insourcing.
Charles Schwab Plans India Expansion
American financial services firm Charles Schwab has plans to grow its new global centre in India to almost 2,000 employees by late 2027, the Telangana government stated. It will ramp up hiring in waves, with a first-year goal of about 500 employees.
Hyderabad Centre to Back US Operations
The global centre of Charles Schwab was opened on Wednesday in Hyderabad. It will provide technology development, engineering and operational support for the company's US businesses.
At the new centre, the company aims to insource some of its technology work handled by contractors in India as well.
India the big centre for global companies
The expansion comes as company groups reluctant to hire high-priced personnel while utilising AI tech to increase efficiency. Some positions at Standard Chartered’s back-office centres in India will be impacted by restructuring while Wells Fargo said AI could eventually replace sections of its workforce.
As of a 2026 report by Nasscom on global capability centres, India has over 2,100 centres employing nearly 2.36 million workers and accounting for close to $100 billion in revenue.
JP Morgan Chase, Wells Fargo, Barclays and American Express are among the financial companies that make up a quarter of India’s global capability centre headcount.
Telangana, which has Hyderabad as its capital, is home to over 475 global centres and is planning for an additional 115 of them in the coming year, Telangana Information Technology Minister Sridhar Babu told Reuters.
Source: Reuters
At Inspirepreneurs Magazine, covering entrepreneurship, business failures, and the human stories behind the world's most ambitious founders. She writes at the intersection of strategy and storytelling.
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