SBI proposes 10 per cent staff reduction from 2019

State Bank of India (SBI) will be reducing its staff by 10 per cent, starting 2019. This was announced by its Managing Director (MD) Rajneesh Kumar. Another six banks will be included in SBI from this April 1st. At present there are 2.7 lakh employees in SBI. After the merger of the other banks, this number will reach 2.77 lakh. As this will give rise to new problems, 10 per cent of the staff will be reduced, starting from March 2019. New recruitment will go on, however only at 50 per cent, he said. Every year, new branches will be opened, he said.