ICICI Bank trims over 5,100 jobs as peers expand branches
Business
ICICI Bank cut over 5,100 jobs in FY26, bringing its staff down from 1.29 lakh to 1.24 lakh, even as it opened more than 500 new branches.
HDFC Bank and Axis Bank also trimmed their teams by thousands while adding branches, showing that the trend isn't just limited to one bank.
Automation reduces routine bank jobs
A big reason for these cuts? Automation.
Banks are using technology for things like account opening and loan processing, which means fewer people are needed for routine tasks.
On the upside, employees can now focus more on sales and giving advice, so the work is shifting rather than disappearing completely.