Axis Bank cuts 3,000 jobs amid tech boost

Axis Bank on Saturday reported a marginal decline in its employee headcount at the end of FY2025–26, attributing the reduction to sustained investments in technology that are now delivering productivity gains across operations.

Axis Bank said its digital transformation streamlined processes, improved efficiency, and reduced manual intervention needs across multiple functions and operations. As a result, workforce optimisation has emerged as a natural outcome rather than a targeted cost-cutting measure. Despite lower headcount, Axis Bank continues hiring for key roles and expanding branches, balancing growth, customer reach, and technology-driven efficiency.

Axis Bank cuts 3,000 jobs as tech boosts efficiency

During a post-earnings call, Amitabh Chaudhry said Axis Bank is optimising headcount as part of its long-term digital transformation, adding that sustained investments in technology are improving operational efficiency and boosting employee productivity across the organisation.

The bank’s workforce declined to around 1.01 lakh in FY26 from 1.04 lakh in the previous fiscal year, marking a reduction of roughly 3,000 employees. Axis Bank clarified that the decline was not aimed at any specific business segment but occurred broadly across functions, reflecting a natural shift in workforce requirements.

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Expands branches, profit stays flat

Axis Bank added nearly 400 branches nationwide, requiring additional hiring, training efforts, and supporting increased digitisation initiatives across operations. The bank emphasised that its strategy continues to balance branch expansion with technology-led efficiency improvements. Amitabh Chaudhry said It allocated 9–10% to technology, investing consistently across cycles to build long-term strategic advantage.

Despite the focus on automation, the bank indicated that artificial intelligence has not yet significantly contributed to reducing headcount. It is currently using AI tools to streamline processes and speed up end-to-end transactions rather than replace roles. It reported a flat March quarter profit of ₹7,071 crore versus ₹7,117 last year, announcing ₹1 dividend for FY26.

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