Monday, August 14, 2017

SBI cuts staff strength, looks to redeploy 10,000

MUMBAI: State Bank of IndiaBSE -0.93 % (SBI) has reduced its staff headcount by 6,622 in the first quarter of FY18 to 2.73 lakh from 2.80 lakh at the beginning of the quarter due to retirements and a voluntary retirement scheme. The bank now plans to redeploy over 10,000 employees following the merger of its associate banks and due to digitisation. 

Consolidation of associate banks and a shift to digital channels for banking have set in motion a job restructuring process in one of th .. 

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