Decoding Yes Bank’s Financial Strategy

According to the Economic Times, Yes Bank has started a reorganisation operation that involves firing at least 500 staff, with additional layoffs possibly to occur in the upcoming weeks. The reorganisation affects a number of industries, including retail and wholesale banking, with the branch banking sector being most affected. A three-month salary in severance compensation has been extended to the impacted employees. The bank affirmed that it is working to improve operational effectiveness by making the most of its personnel. "In our pursuit to be a nimble, future-ready organization—leaner, faster, customer-centric, and operationally efficient—we periodically conduct a comprehensive review of our operations and workforce optimisation," said a spokeswoman.