Axis Bank: 100 senior employees asked to leave? CEO Amitabh Chaudhry on layoff reports - 'Nothing unusual...' - Companies

Updated Apr 26, 2025 08:41 IST

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Axis Bank: 100 senior employees asked to leave? CEO Amitabh Chaudhry on layoff reports – ‘Nothing unusual…’

Axis Bank employees’ layoffs : Leading private lender has addressed recent rumours of its senior employees being laid off and according to its CEO, there is nothing unusual about it. He was addressing whether the lender has laid off around 100 of its senior employees or not during the Q4 FY25 earnings call.

Private lender Axis Bank on Thursday clarified that it did ask a number of employees to leave due to performance-related issues, explaining that this was part of the lender’s regular appraisal process. It further added that these layoffs do not reflect stress in the lender itself.

Axis Bank Employees’ Layoffs

“As is the case in any organisation, we conduct a detailed appraisal cycle at the end of each financial year,” Axis Bank CEO Amitabh Chaudhry said while was addressing reports that more than 100 senior employees were asked to leave. With this, he added, “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. “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, the CEO added.

According to Axis Bank CEO Chaudhry, this is a regular part of our annual cycle and there is nothing unusual.

Axis Bank Q4 Results 2025

During the January-March 2025 quarter, the private lender’s net profit remained flat YoY at Rs 7,117 crore while its operating profit for the quarter grew 2 per cent YoY to Rs 10,752 crore. Axis Bank’s Q4FY25 Net Interest Margin (NIM) came in at 3.97 per cent, improving 4 bps QoQ.

The lender’s operating revenue registered a 4 per cent YoY growth to Rs 20,590, up from Rs 19,855 crore in the year-ago period.

Along with declaring its financial results for the January-March 2025 period, Axis Bank has also announced a final dividend of 50 per cent, which translates to Re 1 per share at a face value of Rs 2. “This would be subject to approval by the shareholders at the next annual general meeting,” it added.