New Delhi, Apr 28, (CXO Media): Axis Bank trimmed its workforce by around 3,000 employees in FY26 as the lender pushed ahead with technology-led efficiency measures. The bank’s headcount stood at about 1.01 lakh at the end of March 2026, compared with nearly 1.04 lakh a year earlier, reflecting a year-on-year decline of roughly 3%.
The reduction in staff numbers came despite the bank expanding its physical presence during the year. Axis Bank added about 400 branches in FY26, indicating that the decline in employee numbers was linked more to productivity improvements than a slowdown in expansion. On a sequential basis, the workforce fell by 552 employees in the March quarter, continuing the gradual rationalisation seen over recent quarters.
During the fourth-quarter earnings call, Managing Director and CEO Amitabh Chaudhry said investments made in technology over the past few years are beginning to deliver measurable productivity gains, allowing the bank to manage operations with leaner teams.
The bank increased spending on technology and digital initiatives, with such investments rising 14% year-on-year and accounting for about 10% of total operating expenses. The focus includes wider deployment of automation and artificial intelligence tools aimed at improving turnaround times and internal processes.
This shift was reflected in operational metrics, with the cost-to-assets ratio declining to 2.28%, down 18 basis points from the previous year. Despite the workforce reduction, business activity remained strong, with advances growing 19% year-on-year and deposits rising 14% in FY26. The bank indicated that technology-driven efficiency gains are likely to continue influencing workforce requirements over the next 18–24 months.
