HDFC, ICICI & Axis Bank Cut Workforce; AI & Automation Drive Hiring Shift

India's top private sector banks have reported a decline in employee headcount, signaling a major shift in hiring trends. Nachiket Kelkar, Business Today, breaks down why HDFC Bank, ICICI Bank, and Axis Bank are reducing workforce numbers despite clarifying that this is not about layoffs. Instead, higher productivity, automation, technology adoption, and normal attrition are driving the change. As AI and digital transformation reshape banking operations, banks are increasingly shifting employees toward customer-facing roles while back-end processes become more automated. Watch this breaking report to understand what this trend means for employees, investors, and the future of banking.