In an attempt to ‘cut costs’, private lenders ‘YES Bank’ have let go off nearly 2,500 employees on Thursday, September 21.
The bank wanted to ‘rationalise the workforce’.
With the bank's digital transformation, greater degree of automation and digitisation gaining momentum, not only will the bank start witnessing better productivity, cost efficiency and customer service in the short to medium term but will also generate some redundancies in job roles which will require rationalisation efforts," the bank released a statement explaining the decision.
The bank’s strength till June 2017 was 20,851.
According to reports, the second quarter analysis will have workforce details.
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