As per reports, Axis Bank has removed Hundreds of Employees from job. Now Axis Bank clarified on Thursday that a number of employees were asked to leave due to performance-related issues.
Axis Bank said that this was part of the bank’s regular appraisal process. The layoffs do not reflect stress in the lender itself. As per reports, more than 100 senior employees have been removed from job.
“As is the case in any organisation, we conduct a detailed appraisal cycle at the end of each financial year,” MD Amitabh Chaudhry said.
“Many employees are rewarded and promoted, while some may fall short in terms of performance, leading to difficult conversations. The banking industry faces varied challenges across different sectors, with some businesses thriving, while others are under pressure. The bank continues to heavily invest in certain areas, and depending on individual performance, exits are sometimes inevitable. This is a regular part of our annual cycle.”
Axis Bank announced its financial results for the March quarter (Q4) of the financial year 2024-25 (FY25) on Thursday, April 24. Axis Bank reported a net profit of ₹7,117.50 crore for the March 2025 quarter. This is a slight decline of 0.20% compared to ₹7,129.67 crore it earned in the same quarter last year. Click here to check Axis Bank Results.
