Layoffs are usual, don't mean stress: Axis Bank

MUMBAI Axis Bank clarified on Thursday that a number of employees were asked to leave due to performance-related issues, explaining that this was part of the lender's regular appraisal process. The layoffs do not reflect stress in the lender itself.

The bank was addressing reports that more than 100 senior employees were asked to leave.

"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."