Sources say the bank's top leaders, including its human resources director, were at a meeting where they gave the managers the ultimatum. Senior leaders used foul language in demanding that the managers "do more" with limited resources, including each manager doing the work of two managers.
"It means if 12 managers are working in the same number of banks, they should be reduced to six," the sources said. If the managers did not meet their targets, top leaders would consider firing them, according to the sources.
"They gave the managers a deadline of two months to uplift the business," the sources said. "The managers termed it sheer blackmailing as they said the HDFC bank was doing well and expanding. The higher officials want them to do double the business..."
The managers also blasted human resources. "The job of human resources is to safeguard the jobs, not be part of a gang to cut the jobs by resorting to blackmailing," the sources noted.