PNB aims at workforce rationalisation

In step with global banking trends, the country's second-largest state-owned lender, Punjab National Bank, is expected to rationalise its workforce and reduce its staff strength by 28,000 in the next six years from 58,000 now.

"My long-term goal is that the bank must be run by 30,000 people by 2015," Punjab National Bank Chairman and Managing Director K C Chakrabarty told PTI.

"We don't have any exit policy (and) we don't want anybody to leave with an exit package. These people (about 28,000) would retire in natural course," he said.

The workforce reduction, however, will be side by side with the induction of personnel with specialised skills to improve operational efficiency.

"We are recruiting about 2,000 people (this) fiscal... I need specific types of skill... People for credit, treasury, corporate communications and marketing," he said.

Chakrabarty said the bank will recruit more next year to cater to the growing business and also to make up for the staff who would be retiring.

"It (recruitment) will be more... Maybe my reduction of staff will be more than 2,000 next year," he said, adding, "my number will not go up but still I will be hiring the people. Many people will be leaving me. I have to replace them."