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IDBI AMC employees fear for jobs as bank considers divesting stake

According to sources, 190-200 employees at IDBI AMC have raised concerns over job continuity

Jash Kriplani  |  Mumbai 

Fearing job losses, the employees of IDBI Asset Management Company (AMC) have made representations to the senior management of IDBI Bank and IDBI AMC, as the bank looks to divest its stake in the AMC business, and merger with Life Insurance Corporation (LIC) of India AMC looks unlikely. According to sources, 190-200 employees at IDBI AMC have raised concerns over job continuity, following the bank’s decision to divest its stake in the fund house.

Sources add that some private sector companies have already placed their bids. Email queries sent to LIC (which owns 51 per cent ...

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First Published: Tue, October 15 2019. 20:00 IST
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