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Yes Bank, in an internal restructuring exercise, has laid off 500 employees, with more layoffs to come across different verticals, to cut operating expenses (Abhijit Bhatlekar/ Mint) The private ...
3 days ago · While the layoffs have happened across several verticals ranging from wholesale to retail, the branch banking segment saw a large impact, one person cited above said. The people sacked have been given severance pay amounting to three months salary. “Yes Bank has launched an internal restructuring exercise at the advice of a multinational consultant. So far, around 500 have been asked to go and we can see more sackings in the coming weeks,” a person aware of the development said.
2 days ago · In April 2024, Yes Bank reported a 123 per cent year-on-year (YoY) increase in net profit for Q4FY24, rising to ₹ 452 crore from ₹ 202.4 crore in the same quarter last year, significantly ...
2 days ago · Yes Bank, a private sector lender, has recently laid off at least 500 employees as part of a restructuring exercise, according to multiple sources familiar with the situation. The layoffs, which ...
2 days ago · By Nithya Bose in Business News, posted June 27, 2024. Private sector lender Yes Bank has started a restructuring, which has resulted in the termination of at least 500 employees. Sources said this is part of a broader cost-cutting strategy that may see further layoffs shortly. The layoffs have spanned multiple departments, particularly ...
2 days ago · Last year, Yes Bank's operating expenses increased by 17 per cent, amounting to Rs. 3,774 crore spent on staff. By the end of the last financial year, the bank had a total of 28,000 employees ...
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3 days ago · Yes Bank is reportedly looking to cut costs by leaning towards digital banking and cutting down manual intervention. This comes as staff expenses for the lender grew over 12 per cent between the ...
