Commenting on reports of layoffs at the company, a Paytm spokesperson confirmed that there has indeed been a reduction in its workforce in the operations and marketing team.
Paytm has cut at least 1,000 jobs across its operations and marketing teams.
New Delhi,UPDATED: Dec 25, 2023 12:29 IST
The parent company of digital payments firm Paytm, One97 Communications Ltd., has fired at least 1,000 employees across multiple divisions as the firm looks to cut costs.
Commenting on reports of layoffs at the company, a Paytm spokesperson confirmed that there has indeed been a reduction in its workforce in the operations and marketing team.
The spokesperson highlighted that digital payments firms is transforming operations by incorporating artificial intelligence (AI) and eliminating “repetitive tasks and roles”.
"We are transforming our operations with AI-powered automation to drive efficiency, eliminating repetitive tasks and roles to drive efficiency across growth and costs, resulting in a slight reduction in our workforce in operations and marketing,” a Paytm spokesperson told IndiaToday.in.
“We will be able to save 10-15 per cent in employee costs as AI has delivered more than we expected it to. Additionally, we constantly evaluate cases of non-performance throughout the year,” the spokesperson added.
Published By:
Koustav Das
Published On:
Dec 25, 2023
English (US) ·