Axis bank layoffs: Employees are going to be trimmed in Axis Bank, the third largest bank in private sector in the country. According to an Economic Times report, the bank has asked many of its employees to leave the job. This retrenchment is part of the bank’s regular appraisal process, in which the staff is being rewarded or promoted on the basis of performance.

More than 100 senior staff trimmed

According to the report, the bank has asked more than 100 senior staff to quit his job. Axis Bank MD Amitabh Chaudhary has said on this, “Like every organization, we also run a detailed apprazal cycle at the end of the financial year.” While announcing the results of the bank’s March quarter on April 24, he said, “Many employees have been awarded or promoted.” Some are left behind in terms of performance. ”

Therefore everyone’s performance is important

He further said, “The banking industry has to face challenges in many different sectors. Some business flourishes, and some remain under pressure. The bank continues to invest heavy in some areas and in such a situation, the performance of each one becomes necessary. Based on this, the trimming also becomes necessary. This is a regular part of our annual cycle. ”

Sleake in bank’s profits in fourth quarter

In the March quarter of FY 2025, the bank registered a profit of Rs 7,117 crore against the previous year’s Rs 7,130 crore. The bank’s earnings have increased by only 6 percent from interest, which has increased to Rs 13,811 crore in FY 2025 as against Rs 13,089 crore in FY 2024.

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