Yes Bank says no to 2500 jobs. It is a bad news for employees working at Yes Bank that 10 per cent of them have lost their jobs. Yes bank has eliminated about 2,500 jobs and more than 10% of its work force citing increased redundancy, poor performance and the impact of digitization.The reduction in Yes Bank’s 21,000-strong workforce marks the second recent cut in India’s private-sector banking space. HDFC Bank, the country’s most valuable lender by market capitalization, has trimmed its workforce by about 11,000 over three quarters to March 2017.Bank insiders said the lender will continue to cut jobs to reduce redundancy, simultaneously attracting top talent that it will need from top campuses and laterally from peer banks for key growth functions.At the end of June, total headcount was 20,851. The bank said that we are working on digital transformation and increasing the automation in it. Its aim is to increase efficiency and reduce costs.
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