paytm layoffs

Walmart-owned Flipkart has begun a workforce reduction exercise that could see its total team size decrease by 5-7%, according to people in the know. This will be completed by March-April as part of performance reviews being conducted currently, they said.Flipkart has been implementing these performance-based job reductions annually for the past two years. It has also frozen fresh hiring in the past year to control costs, these people said. Currently, the firm is closing $1-billion financing from Walmart and others, first…

Paytm layoffs: Just a day after reports suggested Google may fire as many as 30000 employees due to AI rendering those jobs useless, Paytm's parent company One97 Communication has given the pink slip to more than 1000 employees across different departments as a cost-cutting measure. As per reports, the Paytm layoffs took place over the last few months. One of the major reasons that enabled the company to restructure its workforce was the advancement in artificial intelligence (AI), which led to some positions being…

Image Source : PAYTM Paytm Layoff - Implements AI-powered automation, resulting in workforce reduction Paytm, a leading fintech company has reportedly laid off hundreds of employees from its operations, engineering and sales team. The company implemented AI-powered automation which will be driving the forces behind the transformation of the workplace. AI-driven…

One 97 Communications, parent of Paytm, has laid off more than 1,000 employees at multiple units, two people in the know told ET. The publicly listed financial services firm is looking to cut costs as it realigns its various businesses. The job cuts took place over the last few months, said one person. The move is likely to affect at least 10% of the overall headcount and comes on the back of Paytm withdrawing from small-ticket consumer lending and the ‘buy now pay later’ segment, following a regulatory clampdown on…