Axis Bank Layoffs: India’s Private Bank Asks 100 Senior Employees To Leave Based on Their Performance, CEO Amitabh Chaudhry Says ‘Nothing Unusual’
2025-04-26T04:57:06Z
Axis Bank has reportedly asked 100 senior employees to leave based on performance. Regarding the Axis Bank layoffs, CEO Amitabh Chaudhry said, “nothing unusual.”
Mumbai, April 26: Axis Bank, India’s leading private sector bank, has reportedly laid off several senior employees in its latest job cuts round. In response to the layoffs, the CEO and MD Amitabh Chaudhry said that there was nothing unusual about them and that they didn’t mean stress. He clarified that the employees were asked to leave based on their low performance. The Axis Bank layoffs were conducted as part of the regular appraisal process, said the bank.
Axis Bank MD and CEO Amitabh Chaudhry said that the bank conducted a detailed appraisal cycle at the end of every financial year. As a result, the bank gave several rewards and promotions to the employees who performed well. On the other hand, those who did not meet the performance standards were asked to leave as part of the latest round of Axis Bank layoffs. Gensol EV Layoffs: BluSmart Parent Gensol Engineering Lays Off Remaining 100-Odd Employees Amid SEBI Probe, Will Shut Operations by April 30.
The reports said that during Q4 FY25, Amitabh Chaudhry addressed the rumours whether he had laid 100 senior employees or not. Then, he said that some employees were laid off based on their performance. The Axis Bank layoffs suggested that the banking industry faced some difficulties.
HSBC layoffs were implemented in late March 2025, affecting senior staff and vice presidents of the bank. Yes Bank also laid off various senior executives this year. The Yes Bank layoffs were also part of restructuring its business. This year, JP Morgan Chase also cut several jobs in the United States as part of regular business management. Meta Layoffs 2025: Mark Zuckerberg-Run Platform Lays Off Employees Working in Reality Labs Division in Latest Round of Job Cuts.
According to reports, the banking industry difficulties have affected several sectors and caused some businesses to struggle while others grow. The CEO of Axis Bank said that the bank was heavily investing in some areas, but depending on individual performance, layoffs were inevitable. The Axis Bank layoffs reportedly affected around 100 senior employees.
(The above story first appeared on LatestLY on Apr 26, 2025 10:26 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
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