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Paytm Confirms Workforce Reduction, Denies Reports of Over 1,000 Job Cuts

AI/MLPaytm Confirms Workforce Reduction, Denies Reports of Over 1,000 Job Cuts

Paytm, the Indian FinTech firm, has confirmed a “slight reduction” in its workforce while denying reports that it could cut over 1,000 jobs. The parent company, One 97 Communications, did not specify the number of jobs being cut but mentioned that the company will save 10% to 15% in employee costs due to the successful implementation of artificial intelligence (AI). The layoffs are part of Paytm’s efforts to overhaul operations and achieve its first net profit since going public in November 2021. The company aims to transform operations through AI-powered automation, eliminating repetitive tasks and roles to enhance efficiency and reduce costs. Paytm recently withdrew from small-ticket consumer lending and the buy now, pay later (BNPL) segment following regulatory changes by the Reserve Bank of India.

By FCCT Editorial Team freeslots dinogame telegram营销

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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