Bad news for employees of this company as 100 senior staff asked to leave due to…, not Narayana Murthy’s Infosys, Ratan Tata’s TCS, the company is…

Axis Bank layoffs: Axis Bank, one of India’s leading private banks, has reportedly sacked over 100 senior employees, with CEO Amitabh Chaudhry later saying that the layoffs were part of the lender’s annual appraisal process. As per reports, more than 100 senior staff were asked to leave during the bank’s Q4 FY25 earnings call due to poor performance.

“As is the case in any organisation, we conduct a detailed appraisal cycle at the end of each financial year. Many employees are rewarded and promoted, while some may fall short in terms of performance, leading to difficult conversations,” Axis Bank CEO Amitabh Chaudhry said while commenting on reports about the private lender asking more than 100 senior workers to leave.

Chaudhry noted that the banking industry is facing multi-faceted challenges due to which the performance of some employees in various sectors has dipped over the last fiscal. “”On one side bank is investing heavily in certain areas, in some areas, obviously given the performance given how some people might have fared you might see some individuals existing but that happens every year,” he said, adding that the layoffs are a “nothing unusual”, and part of the bank’s annual appraisal cycle.

Meanwhile, according to Axis Bank’s Q4 results, its net profit stagnated at Rs 7,117 crore, while the operating profit for the January-March 2025 quarter, saw a marginal 2 percent YoY increase to Rs 10,752 crore. The private bank’s Net Interest Margin (NIM) for Q4 FY25 stood at 3.97 percent, improving 4 bps QoQ, while its operating revenue witnessed a 4 percent YoY growth to Rs 20,590, up from Rs 19,855 crore in same period last year.

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