HDFC Bank cuts over 3,300 jobs amid technology-led transformation

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HDFC Bank reduced its workforce by 3,343 employees in the financial year ended March 31, as India's largest private-sector lender accelerated automation initiatives and redeployed staff toward customer-facing roles. According to the bank's FY2025-26 annual report, total employee strength declined to 211,178 as of March 31 from the previous year, with new hiring also slowing by 3,811 employees. The decline was mainly in non-supervisory roles, with workmen, clerical and subordinate staff falling by more than 8,000 to 162,797, suggesting most job cuts were in operational and back-office functions. CEO Sashidhar Jagdishan said that as the bank accelerates its transformation toward becoming a technology-led, customer-centric bank, employees need to keep pace.

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